Institutional investors were seriously scared by the fall of bitcoin in May. Recall that the coin lost almost 40% in value last month.
A report from CoinShares says that capital outflows from bitcoin-focused funds intensified over the past week. Institutions have withdrawn from such products about $ 141 million. In the first week of June, the volume of trading in the market decreased by 62%, if compared with the average weekly indicators in May 2021.
The mood in the camp of large investors has become bearish, therefore, most likely, the outflow of funds from bitcoin funds will continue if the trend does not change shortly.
Analysts have found that since January, institutions have sent more than $ 4.2 billion to bitcoin products. BTC-oriented funds have accumulated up to 65.9% of funds sent by large investors to the crypto sphere.
In contrast, Ether (ETH) in June became a more attractive instrument for institutional players. According to CoinShares, if capital is leaving bitcoin products, then there is a slow inflow of funds to Ethereum funds.
Institutions invested $ 33 million in ETH over the week. Ethereum products account for 26.8% of the institutional portfolio.
The researchers also note that investors are interested in Cardano and XRP, which raised $ 4.5 million and $ 7 million last week, respectively.
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Earlier, Skybridge Capital expressed an opinion that investors should save their BTC capitals.