A new research by crypto fund provider CoinShares has shown that since the recent consolidation of BTC, several institutional investors have been making money.
The weekly digital asset flows data from CoinShares identifies $85 million in outflows from institutional crypto products this past week, noting that the data shows “some investors are continuing to take profits after [BTC’s] strong price appreciation.”
The study noted the rising U.S. dollar, stating that the USD index “is typically inversely correlated to Bitcoin prices,” which may explain why certain buyers at current levels are making profits.
Institutional inflows remain strong despite the profit-taking, with $359 million being flooded into crypto investment products this week. Institutions also tend to rely on BTC almost single-mindedly, with Bitcoin goods representing all but 1 percent of the overall capital flows of the week.
CoinShares states that, after the 97 percent decline over three weeks seen since the holiday break, crypto inflows have risen to their pre-Christmas levels. Year-over-year, daily volumes are reportedly up more than 450 percent.
Institutional products actually account for 6 percent of the combined amount of Bitcoin, down from 14 percent at the beginning of the month.
Much of the rising institutional demand for crypto has been lately, with large global firms recently filling their treasuries with BTC.
