Cryptocurrency funds saw a net outflow of $320 million this week, with XRP and Solana defying the trend and attracting capital.

Source: PortaldoBitcoin Original Title: Cryptocurrency Funds Have a Negative Week with Outflows Reaching US$ 3.2 Billion Since October Original Link: https://portaldobitcoin.uol.com.br/fundos-de-criptomoedas-tem-semana-negativa-e-saidas-chegam-a-us-32-bilhoes-desde-outubro/ Cryptocurrency investment products recorded a net outflow of $446 million (2.5 billion reais) last week, with total net outflows since October 10th, when prices sharply declined, reaching $3.2 billion, according to data released by CoinShares on Monday (29th).

“This indicates that investor sentiment has not fully recovered. However, the total inflows for the year remain roughly in line with last year,” the report states, noting that the total inflow for the year is $46.3 billion, with a positive balance of $48.7 billion expected in 2024.

Assets Under Management (AuM) for the year have only increased by 10%, suggesting that the average investor did not achieve positive returns this year, considering the inflow data, CoinShares said.

Regionally, net outflows are widespread, with the United States being the main focus, recording a net outflow of $460 million. Switzerland also experienced a significant negative balance, with $14.2 million. Brazil, despite the smaller amount, also saw a net outflow of $1 million along with the general trend.

Germany was the biggest exception, recording a net inflow of $35.7 million. This European country experienced the largest inflow this month, totaling $248 million, indicating that investors are taking advantage of recent price declines to build positions.

XRP and Solana Funds Lead Inflows

XRP and Solana cryptocurrency funds recorded the largest inflows last week, totaling $70.2 million and $7.5 million respectively, CoinShares noted. Since the launch of spot ETFs in the US in mid-October, they have accumulated inflows of $1.07 billion and $1.34 billion, contrary to the negative sentiment observed in other assets.

In comparison, Bitcoin and Ethereum recorded net outflows of $443 million and $59.5 million last week. Since the launch of XRP and Solana spot ETFs, the total net outflows have reached $2.8 billion and $1.6 billion respectively.