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$48.5M WORTH OUTFLOW FOR CRYPTO INVESTORS PRODUCTS: CANADIAN INVESTORS

$48.5M WORTH OUTFLOW FOR CRYPTO INVESTORS PRODUCTS: CANADIAN INVESTORS 

Digital commodity investment products saw a record high of $ 423 million last week, with institutional investors from Canada representing almost all of these events.


According to the latest version of CoinShares' weekly "Digital Asset Fund Flows" report, Canadian investors released digital commodity products worth $ 487.5 between June 20 and June 24.


This week's output was partially purchased by $ 70 million in foreign exchange, with US-based investors accounting for more than $ 41 million in revenue.


Outside the U.S., investors from Germany and Switzerland accounted for $ 11 million and $ 10.4 million each. In comparison, Brazilians and Australians also came in with a small income of $ 1.6 million and $ 1.4 million.


The total exit reached $ 422.8 million, which marks the largest weekly expenditure by institutional investors since the start of CoinShares records. Significantly, this figure is more than double the previous record of $ 198 million sent in January this year:


“Everywhere you look today, the tide of protectionist sentiment is flowing. The outflow occurred on June 17 but was reflected in last week's figures due to a backlog of trading reports, which could have been the reason for the decline of Bitcoin to US $ 17,760 that weekend. "

In terms of outflows, investment products that offer exposure to Bitcoin (BTC) saw an outflow of $ 453 million, while Solana (SOL) products also saw a small outflow of $ 100,000.


The sharp loading of BTC products last week almost pushed the year-to-date (YTD) flow of the bad, with the figure now standing at just $ 26.2 million in mid-2022 so far.



Investment products that provide exposure to BTC price reductions have generated significant weekly revenues of $ 15.3 million. CoinShares noted that this was due to ProShares launching its first short-term Bitcoin exchange-traded fund (ETF) fund in the U.S. June 22.


Ether Investment Products (ETH) also reduced the 11-week exit by sending revenue of $ 10.9 million. However, YTD Ether products have seen a total turnover of $ 448.3 million, making it the smallest investment option among institutional investors this year.

Source: cointelegraph




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