Bitcoin Fund Outflows Reach Highest Level Since June 2021 – May 4

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$39,155

Bitcoin price has broken back above the $39,000 mark, as markets await the Federal Open Market Committee (FOMC) meeting later today.

Top-20 altcoins are mostly in the green today, as Ethereum and BNB gain 2% each, XRP rises 1% and Tron leads with a 7% gain.

Top Stories for May 4, 2022 🔥

👉 Bitcoin Fund Outflows Reach Highest Level Since June 2021

Outflows from Bitcoin funds reached $133 million last week, according to CoinShares – the largest outflows since June of last year.

The total outflow across all cryptocurrency funds has also been significant, with $326 million pouring out of funds over the last month. Unlike the weekly measurement, monthly outflows have previously been higher this year, with $467 million in outflows at the beginning of 2022.

Non-Ethereum layer-1 blockchains and multi-asset funds have seen increased traction when compared to the leading two cryptocurrencies, Bitcoin and Ether.

👉 World’s Largest Family-Owned Private Bank To Offer Crypto

The world’s largest family-owned private bank in the world, LGT Bank, has announced that it will be offering cryptocurrency brokerage and custody in partnership with SEBA Bank.

LGT bank will begin by offering investment services for Bitcoin and Ether, with discussions underway to add further assets. A possible expansion into staking and yield-earning options are also on the table.

👉 Valkyrie Investments Launches AVAX Fund For Investors

Valkyrie Investments has launched a trust for Avalanche (AVAX), to provide investors with exposure to the Layer-1 blockchain’s native token.

The trust is the company’s sixth single-asset trust, following Bitcoin, Polkadot, Dash, Tron and Zilliqa. Avalanche was launched in September 2020 and has rapidly become the fourth-largest blockchain in crypto.