Events on the front of the crypto-friendly bank Silvergate last week led to a decline in the crypto money industry.
Bitcoin (BTC), which exceeded $ 25,000 in the middle of February, fell to the limit of $ 22,000 after the events.
In the face of these declines, outflows were seen in mutual funds based on cryptocurrencies last week.
Publishing its weekly cryptocurrency report, Coinshares said that last week it had $17 million out of crypto funds.
According to this weekly data, institutional investors recorded fund outflows for the fourth week in a row.
Looking at crypto funds individually, it was seen that the majority of fund outflows were in Bitcoin.
According to the table, it was seen that the outflows in Bitcoin were 20.1 million.
It was stated that unlike Bitcoin exits, the Bitcoin Short fund, which is indexed to the fall of BTC, experienced a significant amount of inflows. Accordingly, the Bitcoin Short fund registered an inflow of $ 1.8 million last week.
The fact that Bitcoin short products entered close to 2 million dollars was interpreted as high expectations for a decrease in Bitcoin price.
Again, the largest altcoin Ethereum (ETH) also saw $ 0.7 million and Solana (SOL) $ 0.3 million.
Looking at regional fund outflows, Germany ranked first with $13.6 million, followed by Switzerland with $6.5 million.
Against these outflows, it was seen that there were inflows of 7.6 million dollars in the USA and 0.1 million dollars in France.
*Not investment advice.