Institutional investors appear to have offloaded nearly $100 million worth of Bitcoin exposure this past week while Ether investment product volumes surged.
CoinShares’ weekly Digital Asset Fund Flows report has revealed last week saw the largest Bitcoin in the report’s history as Elon Musk’s Twitter account again wreaked havoc in the crypto markets.The May 17 report notes $98 million exited Bitcoin investment products last week, equating to 0.2% of total assets under management, or AUM. “While small, this marks the largest outflow we have recorded,” CoinShares noted.Amid the tumultuous market conditions for Bitcoin, institutional investors appear to have ramped up their accumulation of Ether and other alternative cryptocurrencies, with the report identifying inflows to crypto asset investment products of $48 million when excluding Bitcoin. Ethereum represented more than half of flows to altcoin investment products
Źródło: https://cointelegraph.com/news/institutions-dump-btc-as-volume-soars-for-ether-funds
