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INVESTORS TOOK US$432M FUNDS FROM DIGI SOURCE

INVESTORS TOOK US$432M FUNDS FROM DIGI SOURCE

Investors withdrew US $ 423 million from digital assets last week, the biggest weekly outflow as a record, according to exchange data followed by CoinShares.


Quick facts

The exit was probably from Bitcoin (BTC), which received a total withdrawal of US $ 453 million from investments, said digital asset management company CoinShares.


Bitcoin assets under management were US $ 24.5 billion last week, the lowest since the beginning of 2021, CoinShares said.


CoinShares said the exit "probably came from a Canadian exchange," with "one specific provider," on June 17 but was shown in last week's figures due to a slowdown in trading data reporting.


The BTC exit wiped out most of the digital asset inflation this year, and the report noted that the exit "may be responsible for" BTC price falls over the weekend to less than US $ 18,000, its lowest level in 18 months.


Meanwhile, BTC’s financial deficit increased their positions by nearly US $ 15 million last week after becoming a U.S. fund producer. ProShares has introduced the first short ETF linked to Bitcoin.


ETH had a turnover of about US $ 11 million last week, taking 11-week exits, CoinShares said.


At $ 46 billion, the total amount of digital assets under management followed by CoinShares is the lowest level since February 2021, down 59% from a peak in November 2021.

Source: yahoo



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