Cryptocurrencies are experiencing an outflow of inflows for the second week in a row By Reuters


© Reuters. Illustration symbolizing Bitcoin, the world’s largest cryptocurrency by market capitalization.

NEW YORK (Reuters) – Cryptocurrency funds and products have experienced an outflow of cryptocurrency funds and products for the second week in a row, data from cryptocurrency management CoinShare showed on Monday and ether registered a record outflow as institutional investors took a step back.

Total outflows from cryptocurrency totaled $21 million in the week ending June 11. Since mid-May, the total outflows have reached $267 million, representing 0.6 percent of the total assets under management.

Ether recorded the largest share of outflows last week, at $12.7 million.

Coinshares data indicated that the outflow of inflows from last week’s decline to $ 10 million, which is far below the record level in the previous week of $ 141 million. Trading activity in the world’s most popular digital currency products jumped 43 percent from the previous week.

(Prepared by Wajdi Al-Alfi for the Arabic Bulletin)

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