Exits from Institutional Bitcoin and Altcoin Funds Continue! CoinShares Report!

Bitcoin (BTC) While continuing to wander around the $28,000 levels, the eyes were turned to the FED’s interest rate decision, which will be announced tomorrow.

Publishes the weekly cryptocurrency report Coinsharesstated that fund outflows in crypto money products continued in the second week.

Cryptocurrency Stating that there was $72 million in output in its products last week, Coinshares wrote:

“Cryptocurrency investment products have debuted for the second week in a row, which we believe is a response to the possibility of further rate hikes by the Fed.

Debuts totaled $72 million.”

Looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.

Bitcoin is the biggest intrusion last week, while it had an outflow of $ 45.5 million last week. altcoin on Ethereum (ETH) It was seen that there was an outflow of 19.2 million dollars.

indexed to the fall of BTC Bitcoin Short fund also experienced a $ 7.8 million outflow this week.

“Bitcoin saw a majority or $46 million total outflow last week, while the Bitcoin Short fund, which focused on the decline, also saw its biggest outflows since December 2022.

Ethereum also suffered last week, seeing a total outflow of $19 million, its biggest exit week since the Merger in September 2022.”

In the face of the outbursts last week Solana (SOL) $0.2M, Cardano (ADA) It had an inflow of $0.1 million.

Looking at the regional fund inflows and outflows, Germany ranked first with a fund outflow of 40.3 million dollars, while Canada ranked second with 13.6 million dollars, and the USA took the third place with an outflow of 9.7 million dollars.

Germany and the USA were followed by Switzerland with $5.9 million and Sweden with $2.3 million.

Against these exits, it was seen that there was an inflow of 0.3 million dollars in Australia.

*Not investment advice.