Ethereum sees record institutional outflows of US$12.7M
Ethereum saw its largest institutional outflows on record last week as outflows from Bitcoin eased, according to a report by CoinShares. The post Ethereum sees record institutional outflows of US$12.7M appeared first on Forkast.

- By Michelle Lim
- June 15, 2021
- 1 minute read

Ethereum saw its largest institutional outflows on record last week as outflows from Bitcoin eased, according to a report by CoinShares, Europe’s largest digital asset investment firm.
Fast Facts:
- Following two consecutive weeks of positive inflows, institutional investment in Ethereum products took a dip last week, with total outflows of US$12.7 million.
- Bitcoin outflows declined significantly to US$9.9 million last week, compared to US$141.4 million the week before, with trading activity rising 43%. Bitcoin’s next upgrade — Taproot — was confirmed on June 12 and will take place in November. The upgrade will help make Bitcoin transactions more efficient, private and scalable.
- XRP saw outflows of US$2.8 million last week following six consecutive weeks of inflows amounting to US$21 million. Cardano, which is in the midst of its Alonzo upgrade, saw inflows of US$1.7 million.
- The overall crypto market remained soft, with total weekly institutional outflows of US$21.4 million last week, marking the second consecutive week of outflows. This brings total weekly outflows since mid-May to US$267 million, or 0.6% of total assets under management, according to CoinShares.
- “While sentiment has weakened over the last month investors on the whole remain committed given the magnitude of inflows seen this year which represent 13% of AUM or US$5.8bn, nearly matching the US$6.7bn for the whole of 2020,” wrote CoinShares Investment Strategist James Butterfill.
Michelle Lim
Michelle is a Producer at Forkast. Prior to joining the team, she wrote for CNN and served with the Singapore Foreign Service. She holds a Master of Journalism from the University of Hong Kong and a Bachelor of Business Administration from the National University of Singapore.
Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.
If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us