Capital Outflow From Crypto Funds Hits Highest Level in 3 Months

According to the latest report released by CoinShares, capital outflows from funds focused on digital currencies have amounted to $23 million.

According to the analysts of the company, the withdrawal of funds was the largest in the last 12 weeks. Institutional investors prefer to hedge risks and redistribute portfolios against cryptocurrencies.

The change in tactics was a direct result of the collapse of FTX and the subsequent turbulence in the whole crypto market. After a two-week series of institutional entry into the crypto sphere, capital outflow resumed.

According to CoinShares, in annual terms, the influx of investments in crypto funds amounted to $322 million. During the same time, Bitcoin lost 65% in value.