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Crypto funds snap 17-week of inflows, post largest outflows on record
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Crypto funds saw outflows totalling $142 million during the week ended 17 December, the largest weekly outflow on record and the first sell-off after a 17-week run of inflows, according to digital asset manager CoinShares.
The largest previous outflow on record was in early June 2021 where weekly outflows totalled $97 million.
The sell-off in digital asset investment products or crypto funds, which are generally preferred by institutional investors, came amid a widespread correction in the crypto market.
Amid risk-off sentiment in the global financial markets due to rising inflation and surge in fresh covid cases across the world, bitcoin has slumped from a high of around $69,000 to below $46,000 over the last month or so.
During 11-17
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