Last week Coinshares, a British Investment Company, reported about the largest outflow from Bitcoin (BTC) investment products in a week ever. This week ethereum (ETH) products received the same title.
Coinshares reports on 14 June that the net outflow of all institutional cryptocurrency products decreased last week compared to a week before and that corresponds to a more positive market sentiment. Last week the total net outflow at $ 21 million lay while that a week earlier was $ 141 million. The total weekly outflow is now $ 267 million since mid-May, COINSHARES reports.
For Bitcoin products, the net outflow lasted at $ 10 million last week, a considerable decrease compared to the $ 141 million a week earlier. The trade activity in Bitcoin products increased by 43% last week. In contrast, the net outflow for ether products last week at $ 12.7 million:
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“Ethereum had the greatest outflow ever with a total of 12.7 million dollars last week. Ethereum has been the strong player in recent months in respect of Bitcoin, but the inflow during the last week was mixed, indicating mixed opinions among investors. “
Thus James Butterfill of Coinshares. Ripple (XRP) products also saw a small outflow of around $ 2.8 million last week. Cardano (ADA) and Stellar Lumens (XLM) just saw a small inflow of $ 1.7 million and $ 1 million, respectively. Yet once a comment is coming here. The outflow of recent weeks are only a fraction of the total inflow in 2021:
“Although the sentiment has been weakened in the past month, investors are generally committed, given the size of the inflow this year, which represents 13% of the assets or $ 5.8 billion, almost equal to $ 6.7 billion for whole 2020. “