Institutions continue to stay out of the bitcoin market, with the volume of BTC investment products falling to just 38% year-to-date (YTD) last week.
According to the report CoinShare’s July 19 Digital Asset Flow Weekly, BTC investment products generated approximately $ 3.9 billion worth of daily transactions between July 12 and July 16.
However, CoinShares does not conclude that the decline in commercial activity is alarming, as the authors state that Bitcoin “has seen a similar seasonal summer volume decline in recent years”.
Institutional Bitcoin products also saw outflows of $ 10.4 million this week, with investors now cutting their net BTC exposure by nine of the last 10 weeks. Nevertheless, the outflow volume in July was lower than in the previous months.
The largest outflow of Bitcoin products since records began occurred between May 10 and May 14 – when institutional investors pulled $ 98 million off the market.
Supplier flow | Source: CoinShares
As institutional investors continue to reduce their exposure to BTC, Ether (ETH) investment products saw inflows for the third straight week.
Approximately $ 11.7 million has gone into ether products, bringing YTD capital inflows to $ 973 million for 2021. However, Bitcoin has remained the dominant institutional investment product since the beginning of the year and has received $ 4.1 billion from investors since early 2021.
Cardano (ADA) products saw the second largest inflow after Ether, with investors increasing their ADA exposure to $ 400,000. Ripple (XRP) and Polkadot (DOT) also saw inflows of $ 300,000 each, followed by Stellar (XLM) with $ 200,000.
Despite the recent uptrend, inflows into multi-asset products fell to just $ 100,000 for the week.
Thach Sanh
According to Cointelegraph
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