The latest report from analytics firm CoinShares shows that outflows from institutional BTC investment products continue to surge.
According to CoinShares’ June 7 Digital Asset Fund Flows Weekly report, institutional investors are continuing to reduce Bitcoin exposure, with BTC investment products seeing a record outflow of $141 million this past week.
Capital flows for crypto investment products: CoinShares
The data follows heavy institutional selling amid May’s dramatic crypto market meltdown, with institutions having withdrawn nearly $100 million from crypto products between May 10 and May 16, before outflows briefly slowed towards the end of last month.
Trade volume for BTC products is also sharply declining, with the first week of June seeing a 62% drop in trade activity compared to May’s weekly average.
Despite describing institutional sentiment towards BTC as having turned bearish since early May, CoinShares highlighted the outflows represent less than one-tenth of 2021’s inflows:
“The outflows represent 8.3% of the net inflows seen this year and remain minimal on relative