Digital asset management firm CoinShares said last week that institutional investment in crypto products suffered a third consecutive week of outflows.
CoinShares said in its latest digital asset fund flow report that outflows from crypto investment products reached $435 million last week, the largest outflow since last month.
“ETP (exchange traded product) trading volume last week fell to $11.8 billion from $18 billion the previous week, and Bitcoin prices fell 6%.”
While the US saw regional outflows of $388 million, CoinShares notes that inflows this year remain at a record $13.6 billion.
“When we looked into the details, the majority of the outflow was from existing Grayscale, with an outflow value of $440 million, the lowest in nine weeks.
While outflows from Grayscale continue to slow, inflows from new issuers have also slowed, with inflows of $126 million last week compared to $254 million the previous week. Ta. ”
Germany and Canada also saw regional outflows, while Switzerland and Brazil saw inflows of $4 million and $5 million, respectively.
Bitcoin (BTC) and Ethereum (ETH), the leading crypto assets by market capitalization, suffered outflows of $423 million and $38 million each. Meanwhile, multi-asset investment vehicles Solana (SOL), Litecoin (LTC), and Chainlink (LINK) enjoyed $7 million, $4 million, $3 million, and $2.8 million, respectively.
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Featured image: Shutterstock/Wutana Thongkuanluek/Andy Chipus/Vladimir Sazonov
