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CoinShares: Institutional Investors Are Withdrawing Capital from Cryptosphere

CoinShares: Institutional Investors Are Withdrawing Capital from Cryptosphere

CoinShares has been noting institutional capital flow out of crypto funds over the past few weeks.

According to the company, last week was no exception, as investors withdrew about $5 million more from the cryptosphere in seven days. According to the company analysts, the market is in a stagnation phase, so big business prefers to withdraw funds from digital assets.

At the end of the past week, the amount of capital accumulated in crypto funds was at its lowest level since October 2020.

CoinShares has recalled that crypto funds raised more than $7 billion last fall amid the dominance of bullish sentiment in the market. Investor activity intensified after Bitcoin approached $69,000.

Over the past seven days, institutions have withdrawn $7.1 million from short-term funds to Bitcoin. Inflows into long-term BTC instruments amounted to $4.6 million, whereas Ethereum funds lost $2.5 million.