According to CoinShares, the withdraw of crypto funds amounted to almost $423 million during the last week. Moreover, the largest outflow of capital from products focused on digital currencies fell on the share of Canadian institutions.
The digital asset management company has seen a lot of capital exiting crypto funds over the past few months.
A report released on Monday found that Canadian players withdrew $487.5 million from products last week between June 20 and June 24. This outflow was partially offset by a small injection from US investors for $41 million. In total, the inflow for the week amounted to about $70 million.
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Institutional funds from the USA, Germany, and Switzerland have invested in crypto funds. The contribution of Brazilian and Australian hedge funds and financial companies amounted to $1.6 million and $1.4 million, respectively.
Thus, the net outflow of capital from crypto funds in seven days amounted to $422.8 million.
Bitcoin funds were the most affected, of which investors withdrew $453 million. But they invested about $10.9 million in Ethereum funds, analysts said in a report.