Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. CoinShares International Limited
  6. News
  7. Summary
    CS   JE00BLD8Y945

COINSHARES INTERNATIONAL LIMITED

(CS)
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bitcoin hit with record weekly outflow as rally ebbs - CoinShares data

04/26/2021 | 02:49pm EDT
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph

NEW YORK (Reuters) - Bitcoin posted a record weekly outflow, with overall sentiment on cryptocurrencies turning cautious as the digital asset's searing rally hit a wall, data from digital currency manager CoinShares showed on Monday.

Outflows for bitcoin hit $21 million for the week of April 23, the largest weekly outflow on record. Total weekly inflows for the sector were just $1.3 million, the lowest weekly figure since October 2020.

That said, CoinShares said outflows last week were 0.05% of the crypto sector's assets under management, while weekly inflows this year averaged 0.6%.

Total assets under management were $54.3 billion as of last week, down from $64.2 billion in mid-April.

"We saw investors shifting funds away from bitcoin amid some idiosyncratic developments last week, prominently including the temporary power outage in mining mecca Xinjiang," said Matt Weller, Global Head of Market Research at Forex.com and City Index.

Amid serious coal mine accidents in China's Xinjiang, Shanxi and Guizhou provinces, the Chinese government directed local coal-based power stations to conduct inspections of security measures. Data centers in Xinjiang, including bitcoin mining farms, had to shut down due to subsequent power cuts, according to media reports.

After hitting a record high just under $65,000 in mid-April, bitcoin has plunged nearly 25%. On Monday though, the world's largest cryptocurrency in terms of market capitalization rallied as much as 10% and last traded at $54,031, highlighting the asset's extreme volatility.

The second largest cryptocurrency ethereum, meanwhile, showed strong inflows of $34 million. So far this year, inflows were $792 million, or 8% of total AUM, reflecting renewed positive sentiment among investors.

"Cryptoasset investors continued to accumulate ethereum as the highly-anticipated July launch of EIP-1559, which will cut the new supply of ETH dramatically, approaches," said Forex.com's Weller, referring to the blockchain's planned upgrade.

Grayscale remains the largest digital currency manager, with $41 billion in assets as of April 23, down from $49.5 billion the previous week. CoinShares, the second biggest and the largest European digital asset manager, oversees about $5.2 billion, slightly down from $5.7 billion in assets as of the mid-April.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Toby Chopra)

By Gertrude Chavez-Dreyfuss


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -3.32% 39803.75 Real-time Quote.74.55%
BITCOIN - UNITED STATES DOLLAR -3.27% 48380.79 Real-time Quote.73.11%
COINSHARES INTERNATIONAL LIMITED 4.82% 119.5 Delayed Quote.0.00%
GOLD 0.94% 1842.1 Delayed Quote.-3.85%
S&P GSCI GOLD INDEX 0.22% 1071.263 Delayed Quote.-2.91%
SILVER 1.43% 27.4063 Delayed Quote.2.60%
All news about COINSHARES INTERNATIONAL LIMITED
04/26Bitcoin hit with record weekly outflow as rally ebbs - CoinShares data
RE
04/21COINSHARES INTERNATIONALá : Fintech 2021 Trends And Developments In Jersey
AQ
04/20CRYPTO INFLOWS HIT $4.9 BILLION AS O : Coinshares data
RE
04/20COINSHARES INTERNATIONALá : announces issue of options under the Employee Incent..
AQ
04/19CoinShares and 3iQ have collaborated to launch the 3iQ CoinShares Ether Excha..
GL
04/01CoinShares announces strategic collaboration with 3iQ with launch of the 3iQ ..
GL
More news
Financials
Sales 2019 11,3 M 16,0 M 16,0 M
Net income 2019 -62,1 M -87,5 M -87,5 M
Net cash 2019 431 M 608 M 608 M
P/E ratio 2019 -
Yield 2019 -
Capitalization 678 M 953 M 955 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float -
Chart COINSHARES INTERNATIONAL LIMITED
Duration : Period :
CoinShares International Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COINSHARES INTERNATIONAL LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Managers and Directors
NameTitle
Johan Carl Lundberg Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
COINSHARES INTERNATIONAL LIMITED0.00%953