“Some institutional investors profited from BTC during the Bitcoin decline”

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[Blockchain Today Reporter Park Yohan] CoinShares mentioned that there was a significant institutional product leak last week. This means that some institutions have made profits during the recent BTC decline.

According to reports from cryptocurrency fund provider CoinShares, some institutional investors have made profits during the recent price decline of BTC. According to CoinShares’ weekly digital asset flow report, the amount of outflow of institutional cryptocurrency products last week was $85 million. “Some investors have realized profits even after strong price increases,” he argued.

“The US dollar index is generally inversely proportional to the price of bitcoin,” the report noted.

The company also said it was a gentle outflow from Ethereum-derived investment products.

Despite the market gains, the inflow of institutions was strong. This week, $359 million was invested in cryptocurrency investment products. It turns out that the institution is still mostly focused on BTC. Bitcoin products accounted for 1% of the total weekly capital flow.

Coinshares said that the inflow of cryptocurrency has returned to pre-Christmas levels, and that the inflow has decreased by 97% over the three weeks after the holiday period. Meanwhile, the daily trading volume is 450% compared to the previous year. Institutional products account for 6% of the total bitcoin, which is a 14% drop from the beginning of the month.

Recently, institutional intentions about cryptocurrency are increasing, and major global companies have actively secured BTC.

Chicago Mercantile Exchange, which attracted USD 11 million BTC futures in 2020, said it plans to launch an Ethereum futures contract in early February. It is reported that the Ethereum futures contract is pending approval from the regulator.

On January 20, Ninepoint Partners also submitted a final business plan for a Bitcoin trust conditionally approved by the Toronto Stock Exchange.

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