Grayscale and its GBTC continues to lead Bitcoin unit outflows
At a time of uncertainty of setbacks in Bitcoin's price action, many are the conjectures about what may really be generating the current price setback, among the possible causes is Grayscale and the outflows of Bitcoin units making use of its GBTC.
The truth is that according to information disclosed in the CryptoNews portal, columnist Nickolas Plaza indicated that, "Investment products in bitcoin (BTC) and cryptocurrencies worldwide experienced the third consecutive week of outflows, totaling a figure of 435 million dollars".
Referring Plaza that, "That behavior can be observed in the following chart, provided by the investment company, CoinShares. It is evident that this is one of the largest capital outflows since March of this year".
In this regard CoinShares has reported that "trading volumes in mutual funds fell to $11.8 billion last week, compared to $18 billion the previous week."
On the other hand, in the words of CoinShares analyst James Butterfill "investors have opted for diversified multi-currency investment products, which recorded inflows of $7 million, showing slightly positive numbers in their funds"
SOURCES CONSULTED
Criptonoticias. Institutional investment in bitcoin and cryptocurrencies has its third red week. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Criptonoticias
