CoinShares: Institutions Withdrew $55M From Bitcoin Funds in a Week
In 2021, institutional investors invested a record high amount of about $9.3 billion in crypto-related funds. However, financial companies started to withdraw capital from such products in December.
In January, the outflow continued, as in the spot market, as a result of two-month sales, the price of Bitcoin and other digital currencies fell to the lowest levels since last fall.
According to a recent report from the CoinShares team, institutional investors withdrew $55 million from Bitcoin funds last week.
In total, investment firms sold more than $73 million in digital assets. The researchers have emphasized that the outflow of funds from crypto funds has been observed for five consecutive weeks.
The volume of BTC accumulated in crypto products dropped to a three-month low of $35 billion. Ethereum funds lost $30 million. In six weeks, institutions sold this asset for a total amount of up to $230 million.
