Institutional Investors Cooling on Crypto as Weekly Outflows Top $120M
Institutional funds are leaving the crypto sector at an accelerating pace as markets continue their retreats.Capital has flown out of major crypto asset funds for four weeks in a row, and the total for the past seven days was $120.1 million. The total for the 4-week run was $339 million, according to the report.
The majority of those outflows were from Bitcoin-based funds resulting in the largest single week of outflows since June 2021, with $133 million exiting BTC funds.Most of the altcoin-based funds also retreated, but multi-asset funds bucked the trend with a $1.9 million inflow for the period. There were also minor inflows for Terra and Fantom-based products. Only funds based on the FTX token saw measurable inflows with $38 million, CoinShares reported.
Source
@Bitcoin_Ethereum_Altcoins
