Bears of cryptocurrency investment products have recorded record capital outflows in the past week.
According to data shared by CoinShares, institutional investment products for cryptocurrencies have been around for the past week. $207 million net cash outflow.
Bitcoin (BTC) price for a while It fell below $41,000. With this activity recorded in the last week, the last of the investment products in four weeks in total $465 million capital is out.
In investment products created for Bitcoin 107 million dollars While shrinking, the CoinShares team “We believe this is in response to the FOMC minutes, which reflect the Fed’s concerns about rising inflation, and to investors’ fear of a rate hike.” he commented.
39 million seen last week in Ethereum (ETH) investment products; The total outflow of $200 million in the last five weeks corresponds to 1.4 percent of the total value (AUM) of assets held in these funds.
In other altcoins; Binance Coin (BNB) While there was a decrease of 18.1 million dollars in its products, Litecoin, Solana and XRP Small scale growth was observed in investment products.
Unlike cryptocurrencies, investment products that invest in blockchain-related stocks also shrank by $10 million over the week.