Profit taking? Institutional crypto fund inflows drop 97% in three weeks
CoinShares has reported “evidence of potential profit taking” among institutional investors, as weekly crypto fund inflows drop 97% in less than one month. Capital inflows into crypto funds and investment products plummeted during the first week of January after posting new all-time highs in late-December.According to crypto fund manager CoinShares’ Jan. 11 Digital Asset Fund Flows report, the first week of trading in the new year saw just $29 million flow into institutional crypto products. That's a greater than 97% decline from the $1.09 billion invested during the week before Christmas.....
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