Crypto Fund Outflow from ETP Reached $455 Million in 9 Weeks

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Crypto fund outflow reached $455 million in 9 weeks
According to a report presented by asset manager CoinShares, the outflow from cryptocurrency funds through Exchange-Traded Products (ETPs) has reached up to $455 million in the past 9 weeks. The outflow generated from ETPs signals a negative sentiment towards the cryptocurrency. Exchange-Traded Products are designed to track cryptocurrency values. When the shares of these funds fall below their target value, they sell and withdraw cryptocurrencies. The outflow generated by ETPs has seen the most significant dip across all exchange-traded products, and they are responsible for 85% of the outflow.

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