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Home EVM News Fantom Opera Chain

Weekly Institutional BTC Outflows Reach the Highest Level since June 2021.

by ethozedge
May 4, 2022
in Fantom Opera Chain
Reading Time: 3 mins read
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While the BTC price is struggling to break above $40,000, institutional crypto investors have started accelerating outflows from Bitcoin investment products. In the last week, $133 million worth of investment left BTC investment products, which is the highest level in nearly 11 months.

All major digital assets, including BTC, ETH and SOL witnessed sharp outflows amid market correction. However, FTX Token, a lesser-known altcoin compared to Bitcoin and Ethereum, saw a substantial jump in inflows as the number reached $38 million last week, which was the largest among all cryptocurrency assets tracked by CoinShares.

“Digital asset investment products saw outflows totaling US$120m, bringing total outflows in this 4-week run to US$339m. This doesn’t reflect the same bearishness seen at the beginning of this year, although it is close to the US$467m outflows witnessed. Regionally, the outflows were fairly evenly split between The Americas comprising 41% and Europe 59%. Bitcoin saw the majority outflows in what was the largest single week of outflows since June 2021, at US$133m,” CoinShares’ weekly digital asset fund flows report mentioned.

Performance in 2022

The start of 2022 remained challenging for the crypto market amid price dips and uncertain macroeconomic conditions. The impact was evident on weekly BTC and ETH inflows throughout the year. While BTC investment products managed a positive year-to-date inflow of $120 million, Ethereum took a major hit with outflows worth $194 million.

Keep Reading

“Ethereum saw outflows totaling US$25m last week. Year-to-date outflows now sit at US$194m. Most large altcoins saw minor outflows last week with minor inflows into Terra and Fantom totaling US$0.39m and US$0.25m respectively. Blockchain equities finally succumbed to the negative sentiment with outflows totaling US$27m last week, only the third week to see outflows this year,” the report added.

Since November 2021, BTC has lost more than 40% of its value.

While the BTC price is struggling to break above $40,000, institutional crypto investors have started accelerating outflows from Bitcoin investment products. In the last week, $133 million worth of investment left BTC investment products, which is the highest level in nearly 11 months.

All major digital assets, including BTC, ETH and SOL witnessed sharp outflows amid market correction. However, FTX Token, a lesser-known altcoin compared to Bitcoin and Ethereum, saw a substantial jump in inflows as the number reached $38 million last week, which was the largest among all cryptocurrency assets tracked by CoinShares.

“Digital asset investment products saw outflows totaling US$120m, bringing total outflows in this 4-week run to US$339m. This doesn’t reflect the same bearishness seen at the beginning of this year, although it is close to the US$467m outflows witnessed. Regionally, the outflows were fairly evenly split between The Americas comprising 41% and Europe 59%. Bitcoin saw the majority outflows in what was the largest single week of outflows since June 2021, at US$133m,” CoinShares’ weekly digital asset fund flows report mentioned.

Performance in 2022

The start of 2022 remained challenging for the crypto market amid price dips and uncertain macroeconomic conditions. The impact was evident on weekly BTC and ETH inflows throughout the year. While BTC investment products managed a positive year-to-date inflow of $120 million, Ethereum took a major hit with outflows worth $194 million.

Keep Reading

“Ethereum saw outflows totaling US$25m last week. Year-to-date outflows now sit at US$194m. Most large altcoins saw minor outflows last week with minor inflows into Terra and Fantom totaling US$0.39m and US$0.25m respectively. Blockchain equities finally succumbed to the negative sentiment with outflows totaling US$27m last week, only the third week to see outflows this year,” the report added.

Since November 2021, BTC has lost more than 40% of its value.



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Tags: bitcoin newsBTCcrypto analysiscrypto newsEthoz EdgeHighestInstitutionalJuneLatest bitcoin newslatest crypto newsLevelOutflowsReachWeekly
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