Institutional investors offloaded a record $423 million worth of digital asset investment products last week, more than double the previous record of $198 million in January.
Digital asset investment products saw record outflows totaling $423 million last week, with institutional investors from Canada representing nearly all of the carnage.of CoinShares’ weekly “Digital Asset Fund Flows” report, Canadian investors offloaded a whopping $487.5 worth of digital asset products between June 20 and June 24.
Outside of the U.S., investors from Germany and Switzerland accounted for inflows totaling $11 million and $10.4 million apiece. In comparison, Brazilians and Australians also pitched in with minor inflows of $1.6 million and $1.4 million. “Regionally, the outflows were almost solely from Canadian exchanges and one specific provider. The outflows occurred on 17th June but were reflected in last week’s figures due to trade reporting lags, and likely responsible for Bitcoin’s decline to US$17,760 that weekend.”
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