According to report from CoinShares, institutional investors withdrew about $47 million from crypto funds from March 14 to March 18. The company researchers have emphasized that the outflow of funds from products focused on digital currencies is observed for the second week in a row.
A week earlier, institutionals withdrew approximately $110 million from crypto funds. Prior to that, for seven consecutive weeks, on the contrary, the largest investors invested in such instruments, the report says.
Bitcoin and Ether-focused funds have seen $33 million and $17 million in outflows, respectively. At the same time, most other altcoin funds recorded a small influx of capital last week.
CoinShares analysts have said:
“We believe the negative sentiment in North America is due to increased regulatory uncertainty and geopolitical concerns.”