in bitcoin While the rise caused the excitement of investors who have not seen any color other than red, which has been living in a bear market for a long time, institutional bitcoin And cryptocurrency Outflows from funds continue.
Coinshares, which tracks institutional crypto funds, said that a total of $95 million outflows were made in the 6th week from crypto money funds. According to the report, the 6-week total output was $406 million.
Last week, Bitcoin outflows reached $113 million.
Although the outflow of funds was interpreted as institutional investors not being convinced of the rise in Bitcoin, Coinshares said it was more about the need for liquidity than negative emotions.
With the rises experienced last week, the value of assets held in corporate funds reached the highest level since June 2022 when 3AC went bankrupt. The total value of assets rose 26% to $33 billion.
“Bitcoin investment products continued to be the focus of negative sentiment, seeing a total of $113 million last week and a total of $424 million in the last 6 weeks.
Despite the exits, the total AuM increased by 32% over the week.
It is clear that this sentiment goes against the rally in the crypto market, but this may be due to the need for liquidity during the banking crisis, a similar situation seen when COVID first hit in March 2020.
Altcoins other than Ethereum ($13 million exit last week) reversed the trend, seeing inflows reaching $1.3 million last week. This positive sentiment supports the idea that the outflow of larger crypto assets is driven by the need for liquidity.”
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