Weekly Institutional BTC Outflows Reach $75 MillionWith $75 million worth of weekly outflows, Bitcoin (BTC) investment products remained under pressure after the crypto asset failed to break above $43,000. Institutional investors pulled money out of the crypto products and invested in safe-haven assets last week.
In total, the digital asset investment products have seen outflows worth $47 million in the past week, the second consecutive week of outflows. Apart from BTC, Ethereum witnessed outflows during the mentioned period.
The crypto outflows predominantly came from the North American digital asset services providers. Due to the weekly outflows, the overall value of global digital assets under management decreased slightly to $53.6 billion.
