Institutions continue offloading BTC exposure despite price rebound

CoinTelegraph

Publicado 27.07.2021 08:51

Actualizado 27.07.2021 13:36

Institutions continue offloading BTC exposure despite price rebound

Investments in institutional Bitcoin products have continued to decline this past week.

In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.

The findings revealed that Bitcoin-based funds saw the largest outflows with $24 million, or 85% of combined outflows from crypto products. Monthly outflows for BTC are now at $49 million, although year-to-date flows remain positive at $4.1 billion. CoinShares stated:

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