Once-High-Flying Crypto Funds Are Hardly Drawing Any Investor Attention
- Investors seen abandoning sector without plans to come back
- Top-performing non-leveraged equity ETFs are all crypto
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The cryptoverse has seen what seems like a lifetime of ups and downs already this year, yet activity in products linked to the industry have been nearly nonexistent, with analysts saying that investors have abandoned the sector without plans to come back anytime soon.
Nearly $172 million exited from global exchange-traded products tracking everything from Bitcoin to Cardano in the first six months of 2023 amid an industry wide rally, following outflows of just $37 million in 2022. That compares to record cash inflows of nearly $10 billion in 2021 and $6.7 billion in 2020, Bloomberg data show.