Institutional investors are fleeing Bitcoin

According to a new report by Coinshares, institutional investors are fleeing Bitcoin at a rapid pace.

In the last week of June alone - from 20.-26. June – exchanges lost $453 million worth of bitcoin.

The deduction was partly responsible for Bitcoin's brief fall to almost $17,000 last week, Coinshares suspects.

If you take a closer look, you will notice that the crypto mood among institutional investors is actually rather divided.

Much of the pullback comes from Canadian investors, the Purpose Bitcoin ETF ($490 million). In the USA, on the other hand, around 50 million US dollars were invested in Bitcoin at the same time.

A strong sign for Ethereum: Institutional investors added $10 million to their portfolios here.

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