Bitcoin funds lost $55 million in a week

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In 2021, institutional investors invested a record high amount of about $9.3 billion in crypto funds. However, already in December, financial companies began to withdraw capital from such products.

In January, the outflow continued, as in the spot market, as a result of two-month sales, the cost of bitcoin and other digital currencies fell to the lowest levels since last fall.

A report from the CoinShares team states that institutionalists withdrew $55 million from bitcoin funds last week alone.

In total, investment companies sold digital assets worth more than $73 million. The outflow of funds from crypto funds has been observed for five consecutive weeks, the researchers emphasized.

The volume of BTC accumulated in cryptocurrency products fell to a three-month low of $35 billion. Ethereum funds lost $30 million. In six weeks, institutions sold this asset for a total amount of up to $230 million.

Funds focused on the altcoin Solana (SOL), on the contrary, showed an influx of funds. These products raised $5.4 million last week, analysts said.

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