Digital asset investment products experienced outflows for the fourth consecutive week, amounting to $251 million. The past week marked the first “measurable outflows” from newly issued ETFs in the US, totaling $156 million last week.
According to the latest edition of Digital Asset Fund Flows Weekly Report, the average purchase price of these ETFs since their launch is estimated to be $62,200 per bitcoin. As the price dropped 10% below this level, the Singaporean asset manager speculated that it may have triggered automatic sell orders.
The post Digital Asset Outflows Reaches $251M for Fourth Straight Week: CoinShares appeared first on CryptoPotato.
Digital asset investment products experienced outflows for the fourth consecutive week, amounting to $251 million. The past week marked the first “measurable outflows” from newly issued ETFs in the US, totaling $156 million last week.
According to the latest edition of Digital Asset Fund Flows Weekly Report, the average purchase price of these ETFs since their launch is estimated to be $62,200 per bitcoin. As the price dropped 10% below this level, the Singaporean asset manager speculated that it may have triggered automatic sell orders.
The post Digital Asset Outflows Reaches $251M for Fourth Straight Week: CoinShares appeared first on CryptoPotato.