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Institutions continue to remain on the sidelines of Bitcoin markets, with BTC investment product volumes falling to just 38% of its annual cumulative average (YTD) over the past week.
According to CoinShares July 19 Weekly digital asset fund flow report, Bitcoin investment products generated around $ 3.9 billion in daily trade from July 12 to 16, down substantially from the 2021 average of nearly $ 10 billion.
However, the report’s authors do not conclude that the decline in trading activity is alarming, with CoinShares noting that Bitcoin has experienced “similar seasonal declines in volumes over the summer months in recent years.”
Institutional Bitcoin products also saw outflows of $ 10.4 million for the week, with investors now reducing their exposure to BTC in nine of the past 10 weeks. Despite this, the volume of exits observed during the month of July decreased compared to the last months.
The largest Bitcoin product release on record occurred between May 10 and May 14, when institutional investors pulled $ 98 million from the markets.
As institutional investors continued to reduce their exposure to BTC, Ether investment products (ETH) recorded a third consecutive week of inflow last week.
About $ 11.7 million has been invested in Ether products, bringing cumulative inflows to $ 973 million for 2021 so far. However, Bitcoin products dominate the institutional digital asset products industry through YTD feeds, receiving $ 4.1 billion from investors since the start of the year.
Related: Ethereum Documentary Starring Vitalik Buterin Raises $ 1.9 Million In 3 Days
Cardano products (ADA) recorded the second largest influx behind Ether, with investors increasing ADA exposure by $ 400,000. Tracking products Ripple (XRP) and Polkadot (DOT) also registered entries of $ 300,000 each, followed by Stellar (XLM) with $ 200,000.
Despite the recent uptrend, entries on multi-asset products fell to just $ 100,000 for the week.
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