Data released by digital asset manager CoinShares on Monday showed record outflows from cryptocurrency investment products and funds for the second consecutive week in the week to June 11 as institutional investors withdrew.
Last week, outflows from cryptocurrency reached $21 million, with outflows totaling $267 million since mid-May, accounting for 0.6 per cent of total (AUM) of assets under management, according to the data.
The outflow of Ether Square reached $12.7 million last week, the largest one-week outflow.
Bitcoin outflows have slowed, with a net outflow of $10 million last week, well below the previous weekly record of $141 million. Trading activity in bitcoin products increased by 43% from the previous week.