It’s been just revealed that the digital asset investment products have seen outflows that totaled $97 million last week. Check out the following tweet about the issue below.
Digital asset investment products saw outflows totalling $97m last week. The outflows represent the second week in what we believe is likely a result of recent profit taking and a reaction to the more hawkish FOMC statement.
via @CoinSharesCo https://t.co/4YQkGFmRGM pic.twitter.com/Yo26zZyJfO
— unfolded. (@cryptounfolded) April 19, 2022
Coinshares blog post noted that the digital asset investment products saw outflows totaling US$97m last week.
The outflows represent the second week in what we believe is likely a result of recent profit-taking and a reaction to the more hawkish FOMC statement.
Investors look to have sold out of Short-Bitcoin investment products, following a few weeks of inflows.
Check out the following numbers:
According to the same official report, the outflows last week were US$1.8m, representing 16% of total assets under management.
Ethereum, Solana, and Cardano saw outflows last week too, totaling US$27m, US$0.7m, and US$0.7m respectively.
It’s been also revealed that the multi-asset investment products (multi-coin) remain a firm stalwart with another week of inflows totaling US$5.3m.
Crypto adoption explosion
There’s a massive crypto adoption boom and it’s addressed by Anthony Pompliano on his Twitter account.
Thousands of people want to work in the bitcoin & crypto industry, but don’t think they have the skills.
We created a 3-week intensive program to train fundamental knowledge. There are 50+ events packed into schedule.
Apply for April cohort: https://t.co/ks6tsUnTWq pic.twitter.com/dk1uTaKrbW
— Pomp 🌪 (@APompliano) April 17, 2022
Crypto adoption has been going great and this trend continues to rise.
The Block Crypto noted not too long ago that a Virginia bill allowing state-chartered banks to provide custodial services for “virtual currency” was approved by Governor Glenn Youngkin on Monday.