Institutional investors withdrew a total of $88 million from crypto funds last week.
Over the past eight weeks, there has been an exodus of capital from instruments that track the performance of digital currencies, according to a CoinShares report.
The company found that during that time, insituionals withdrew $417 million from crypto funds.
The withdrawal from the cryptosphere was the result of increased oversight of the industry in developed countries and tighter monetary policies by central banks.
Investors withdrew $36 million from etherium funds, the highest weekly outflow since September 2022.
Outflows from bitcoin funds in the last seven days amounted to $52 million. Thus, in eight weeks, large capital took $254 million from BTC instruments.
Funds displaying the performance of mid-cap altcoins, on the contrary, showed a slight increase in capital investments.
As one of the authors of the report, James Butterfill, noted, lightcoin funds were the most successful. Institutions from North America, Switzerland and Germany showed the greatest activity. They withdrew the lion’s share of funds from crypto funds, the CoinShares analyst stressed.