Total Bitcoin Investment Product (BTC) Outflow Reaches $ 141 Million! - Kakiforex.com - Financial Market Media No. 1 in the World Total Bitcoin Investment Product (BTC) Outflow Reaches $ 141 Million! Total Bitcoin Investment Product (BTC) Outflow Reaches $ 141 Million!
InstaForex

June 8, 2021

Total Bitcoin Investment Product (BTC) Outflow Reaches $ 141 Million!

 The latest record from analytics firm, CoinShares proves institutional investors are increasingly distrustful of the performance of Bitcoin (BTC).


A record outflow of BTC investment products reportedly increased to as much as $ 141 million last week.


At the same time, trading volume for BTC products also declined sharply, 62% in the first week of June compared to the weekly average record in May.


However, CoinShares emphasizes that such record outflows represent less than 1/10 of inflows for 2021.



BTC investment products have seen inflows of over $ 4.2 billion since early 2021. This means, Bitcoin represents 65.9% of the total funds locked in crypto investment products.


While Ethereum received an inflow of $ 33 million since last week, it showed high interest among institutional investors. Recorded Ether represents over 26.8% of total assets under management (AUM) locked in crypto investment products.


Apart from Ethereum, investors are also targeting Ripple (XRP) and Cardano (ADA) investment products.


XRP for example saw inflows of $ 7 million, a record high since April. While the ADA recorded an inflow of $ 4.5 million.