By Gertrude Chavez-Dreyfuss
NEW YORK, Jun 2 (Reuters) – Cryptocurrencies posted revenue last week after scoring record leaks in the previous fortnight as investors took advantage of price drops in the market, according to data from digital currency manager CoinShares.
The inflow of funds to crypto investment products and funds totaled $ 74 million last week. The previous two weeks saw a historic flight of $ 151 million, representing 0.3% of assets under management.
Bitcoin products continued to see outflows last week at around $ 4 million, according to CoinShares data, bringing the total output for the past three weeks to $ 246 million. However, for the year, the unit records revenues of $ 4.4 billion.
The world’s most popular cryptocurrency surged 3% last week and was up 3.8% on the session at $ 38,104.
Ether, the second largest digital unit in terms of market capitalization and the token used for the Ethereum blockchain, showed inflows of $ 47 million, with total revenues totaling $ 973 million.
Its price rose 13% last week, but fell 41% the previous week.
Investment product flows also showed that altcoins, or tokens that are neither bitcoin nor ether, remained popular, with new funding for Cardano, Polkadot and Ripple.
Grayscale remains the largest digital currency manager, at $ 33.6 billion, but its assets under management fell from $ 47.3 billion two weeks ago.
CoinShares, the world’s second-largest digital asset manager and Europe’s largest, oversaw around $ 3.9 billion in assets as of last week, down from $ 6 billion two weeks ago.
(Reporting by Gertrude Chavez-Dreyfuss; Edited in Spanish by Janisse Huambachano)