While the price of Bitcoin (BTC) was stuck below $42 thousand, there was a significant outflow from institutional cryptocurrency funds.
In the data shared by Coinshares on its official blog page, it was stated that there was a significant outflow from corporate cryptocurrency funds. Last week corporate cryptocurrency to the funds net worth 500 million dollars There was an outflow of money.
It ranks first in corporate cryptocurrency funds, as in the past weeks. with $478 million again Bitcoin (BTC) took place. It is estimated that the outflow from Grayscale’s spot Bitcoin ETF since January 11 and its negative impact on the price has spread to other funds.
However, according to CoinShares data, outflows from Grayscale 2.2 billion to the dollar Although it reached its peak, it showed signs of decreasing towards the end of the week. In other news, other spot Bitcoin ETFs $1.8 billion saw inflows worth.
Ethereum (ETH), It was affected by the negative sentiment in funds and was small compared to Bitcoin. $38.8 million experienced an outflow of money. One of the funds that experienced a lot of money outflow last year short Bitcoin from the fund 10.6 million dollar exit observed.
CoinShares stated that the decline in price despite positive news flows was due to pre-pricing of spot ETFs.
There were also small outflows in altcoins. From Polkadot (DOT) 700 thousand dollars, From Chainlink (LINK) 600 thousand dollars, From Litecoin (LTC) 200 thousand dollars, Ripple (XRP) And From Cardano (ADA) There was an outflow of 400 thousand dollars. In Solana for 3 million dollarsr money inflow was observed.
On a country basis, there was an outflow of money from almost every country, with the USA, Switzerland and Germany taking the lead.