CoinShares’ report noted that Bitcoin outflows rose last week, while trading volume for spot BTC ETFs totaled $11.8 billion.
The latest report from European cryptocurrency investment firm CoinShares shows that there were minor outflows from institutional Bitcoin (BTC) investment products over the past seven days.
According to CoinShares’ “Digital Asset Fund Flows Weekly” report published on Jan. 22, institutional investors are reducing Bitcoin exposure, with BTC investment products seeing total outflows of $24.7 million this past week.
The data follows heavy selling amid a spot Bitcoin exchange-traded fund (ETF)-driven crypto market meltdown, with institutions having withdrawn nearly $21 million from crypto products between Jan. 11 and 19 before outflows briefly slowed toward the end of last week.
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Source: https://cointelegraph.com/news/crypto-fund-outflows-reach-24-7m-as-gbtc-selling-impacts-bitcoin-price