Institutions continue to steer clear of the Bitcoin markets as the volume of investment products in BTC declined to just 38% from their year-to-date average (YTD). ) During the past week.
According to the weekly report Flow of the digital asset fund from July 19 CoinShares, Bitcoin investment products generated approximately $ 3.9 billion in daily transactions from July 12 through July 16, well below the 2021 average of nearly $ 10 billion.
However, the report’s authors do not conclude that the decline in trading activity is a cause for concern and – â ????CoinShares noted that Bitcoin has seen similar seasonal declines in volume over the past few years during the summer months..
Institutional Bitcoin products also saw $ 10.4 million in outflows over the week, and investors have now netted their exposure to BTC for nine of the last 10 weeks. the number of departures registered in July has decreased compared to the last few months.
The largest outflow of Bitcoin products ever recorded occurred between May 10th and 14th. when institutional investors pulled $ 98 million off the markets.
While institutional investors have further reduced their exposure to BTC, Ether (ETH) investment products saw inflows for a third straight week last week.
About $ 11.7 million went into ether productswhich brings the inflows so far to $ 973 million by 2021. Bitcoin products dominate the sector of institutional digital asset products according to YTD flows, received $ 4.1 billion from investors since the beginning of the year.
Cardano (ADA) products posted the second largest entries after Ether, and investors added $ 400,000 in ADA exposure, with tracking products Ripple (XRP) and Polkadot (DOT) also seeing inflows of $ 300,000 each, followed by Stellar (XLM) at $ 200,000.
Despite recent optimism, inflows into multi-asset products fell to just $ 100,000 per week.