Institutional Crypto Investment Funds Experience 5th Straight Week of Investor Withdrawals, According to CoinShares Report

Institutional crypto asset funds have experienced their fifth consecutive week of outflows, according to the CoinShares Digital Asset Fund Flows weekly report on May 22. The total outflow has reached $232 million, with an outflow of $32 million for the past week. However, the outflow was lower than the previous three weeks. Bitcoin funds represented the most negative sentiment, with $33 million leaving. Ethereum funds, by comparison, only lost $1 million in outflows. The report noted that volumes totaled $900 million for the week, which is 40% below this year’s average. In terms of geographic regions, Germany dominated the outflows with 73% of the total representing $24 million. Outflows of $3.3 million were also seen from Switzerland-based institutional funds. The crypto exodus came in the same week as Europe’s MiCA crypto legislation was approved. U.S. funds had an outflow of $5.5 million for the week, but there was an inflow of $2.2 million in crypto-friendly Canada. Brazil also saw minor inflows of $1.3 million. Despite the negative Bitcoin sentiment among institutional investors, BTC hodling has become the primary market narrative, according to Glassnode. Digital asset markets are still consolidating with a 2.7% gain on the day to keep them range-bound. Total capitalization is back to $1.19 trillion, continuing the sideways momentum of the past fortnight. Bitcoin has added 2.5% to reach $27,400, but there is resistance just above it at $27,600. Meanwhile, Ethereum is up 3.2% to $1,860 at the time of writing.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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