The outflow of funds from crypto funds amounted to $20.8 million

CoinShares presented a weekly report on financial flows into cryptocurrency-based investment products in the period from January 13 to January 19. Experts reported an outflow of funds amounting to $20.8 million.

According to the data, over the week the outflow of capital from crypto products associated with the first cryptocurrency amounted to $24.7 million, from Ethereum - $13.6 million. However, experts recorded the flow of funds in the amount of $12.7 million into products that allow opening short positions on Bitcoin .

Analysts also noted that the slight outflow of funds “hides” very high trading volumes in the United States; this figure for the week amounted to $11.8 billion.

According to experts, the outflow of funds from the GBTC fund from Grayscale Investments amounted to $2.22 billion. However, the ETF from iShares and Fidelity received $931.1 million and $860.4 million, respectively. The influx of funds into new ETFs since their launch amounted to $4.13 billion, CoinShares noted.

In addition, analysts said that inflows to the United States amounted to $263 million, while outflows to Canada and Europe totaled $297 million.

“[...] This suggests that there has been little migration of assets to the US, where fees are now more competitive,” the report said.