Virtual Currency Investment Funds Decline for 4 Consecutive Weeks

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] Major foreign media reported on the 2nd (local time) that funds have been withdrawn from cryptocurrency investment products and funds for four consecutive weeks.

According to cryptocurrency management company CoinShares, as of the 30th of last month, investment funds in the cryptocurrency market decreased by $19.5 million over one week. While investments in some altcoins such as Ripple and Polkadot slightly increased, Bitcoin investments decreased by $19.7 million.

Despite the recent drop in Bitcoin prices below $30,000 and subsequent recovery, investment funds actually declined.

James Butterfill, investment strategist at CoinShares, explained, "It appears that investors used the recent Bitcoin price rebound as an opportunity to realize profits."

Bitcoin prices surged 12.5% last week, approaching the $43,000 level.

Despite the recent consecutive outflows, overall Bitcoin market investments increased by $4.1 billion this year.

Ethereum investments also decreased for the second consecutive week, dropping by nearly $100 billion last week. However, overall Ethereum investments increased by approximately $957 million this year.

CoinShares is the world's second-largest cryptocurrency asset management company, managing $3.7 billion in assets as of last week. The largest cryptocurrency asset management company, Grayscale, manages $342 billion in assets.

This content was produced with the assistance of AI translation services.