Ethereum and Ripple funds are popular, BTC investment trusts continue to withdraw funds
Bitcoin’s investment products were withdrawn last week by a record amount of money as physical price declines worsened market sentiment. According to digital asset manager CoinShares, investors withdrew $ 141 million from Bitcoin funds in the seven days to June 4, the highest weekly amount. Most crypto funds have seen a net decline as Bitcoin prices fell by nearly 30% in May. According to CoinShares, some investors are diversifying their funds among the funds as investors’ willingness to buy Bitcoin funds declines. Investors have shown interest in altcoin investment products such as Ethereum (ETH), Ripple (XRP) and Cardano (ADA), with $ 33 million inflows into the Ethereum fund in particular.