Posted 12/18/2023, 7:16:33 PM
Crypto Funds See $16M Outflow, Ending 11-Week Inflow Streak; Solana Remains a Bright Spot
- Investors withdrew $16M from crypto funds last week, ending an 11-week run of inflows, seen as "profit-taking" rather than a loss of confidence
- Solana (SOL) saw the most inflows at $10.6M as investors remain interested in altcoins
- SOL is the 6th largest crypto by market cap and has seen significant price increases due to interest from companies
- Investors are still active in crypto trading, with $3.6B in volume last week compared to a $1.6B average
- There is hype around a Bitcoin ETF, which would allow exposure by tracking Bitcoin price; companies like BlackRock have applied to launch one