More On: Bitcoin
Institutional investors withdrew nearly $47 million from crypto funds between March 14 and March 18, according to a CoinShares study.
The first increase in the Federal Reserve System's discount rate since 2018 was a watershed moment for the world economy last week. As a result, the US regulator hopes to lower inflation, which is rapidly rising amid the tensions.
Institutional investors withdrew nearly $47 million from crypto funds between March 14 and March 18, according to a CoinShares study. The outflow of funds from digital currency-focused goods has been noticed for the second week in a row, according to the experts.
Institutional investors withdrew over $110 million from crypto funds a week ago. The largest investors, on the other hand, had been investing in such products for seven weeks in a row prior to that, according to the research.
Outflows from Bitcoin (BTC) and Ether (ETH)-focused funds totaled $33 million and $17 million, respectively.
Most other cryptocurrency funds, on the other hand, saw a tiny inflow of capital last week.
"We believe the negative attitude in North America is due to greater regulatory uncertainty and geopolitical concerns," said CoinShares analysts.
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