Crypto Funds Face Outflows for First Time in 17 Weeks: Coinshares
For the first time in 17 weeks, cryptocurrency-related funds have faced capital outflows. According to CoinShares, institutional investors have withdrawn $142 million from them.
According to the company experts, the largest exit of institutional capital from the crypto sphere took place in June this year, in particular, at the beginning of the month. In that moment, asset management companies withdrew a total of $97 million from digital assets-focused funds.
In annual terms, the withdrawal of funds amounted to just 0.23% of the total volume of capital that entered the crypto sphere.
However, it is worth mentioning that the researchers believe that since the beginning of 2021, institutional investors have put up to $9.5 billion into crypto-related funds, which is a record amount. The previous record was recorded in 2020 ($6.7 billion).
In terms of cryptos, Bitcoin-focused funds lost $89 million and Ethereum’s $64 million. However, Solana (SOL) and Polkadot (DOT) funds on the contrary, raised $6.7 million and $2.5 million, respectively.
