Crypto fund outflows accelerate to $795 million

According to fresh data from the analytics firm CoinShares, between April 5 and 11, investors withdrew approximately $795 million from cryptocurrency investment funds. This is nearly three times more than the previous week, when outflows totaled $240 million. The trend has persisted for the third consecutive week, indicating growing caution among market participants. The total assets under management (AUM) in crypto funds fell to $129.9 billion. Since February, cumulative outflows have reached $7.2 billion, effectively wiping out the inflows recorded since the beginning of 2024. The greatest losses were seen in funds focused on the leading cryptocurrency — Bitcoin. $751 million was withdrawn from them over the week, making up the vast majority of total outflows. The previous week, this figure stood at a significantly lower $207 million. The negative sentiment was especially pronounced in U.S.-based spot Bitcoin ETFs, which saw outflows of $713.3 million compared to $172.7 million a week earlier. Altcoins were also affected by the negative trend. Ethereum funds saw outflows of $37.6 million, Solana — $5.1 million, and Sui — $0.58 million. Against this backdrop, XRP became a rare exception, showing a positive investment inflow of $3.4 million, demonstrating relative resilience amid the overall downturn. Analysts at Nansen suggest that the crypto market may test a local bottom by June. According to them, the key influence on future movement will be the outcome of U.S. trade negotiations with major global partners concerning tariff policies.