Claim $500Institutional Traders Dumped Bitcoin At A Record Pace Last Week
Bitcoin investment products saw record weekly outflows worth $453M, a report by CoinShares reveals. James Butterfill, the head of research at CoinShares, said these outflows were likely responsible for Bitcoin’s $17,760 price that weekend.
While all digital asset investment products faced a record-high $423 M weekly outflow, the outflows were mostly focused on Bitcoin. The $423 M outflows are the largest ever since the records have been maintained. The previous high was recorded in January of this year, which was valued at $198 M.
The outflows represented 1.3% of Assets Under Management, which is the third-highest AuM outflow ever.
Canada Record The Most Bitcoin Outflows
The CoinShares report reveals that the outflows were almost entirely from Canadian exchanges and one specific provider. Purpose Investments, a provider in Canada, saw a weekly outflow worth $490 M.
Canada was the only country to record a weekly outflow of $487 M. Rest of the countries combined had a weekly inflow of $65 M.
The outflows were recorded on 17th June but were reported in the next week’s numbers because of the trade reporting lags. The recorded outflows were likely the reason for Bitcoin’s $17,760 price that weekend. This was the first time Bitcoin fell below its previous cycle’s all-time high of $19,783, which it achieved in December 0f 2019. The outflows depleted Bitcoin Asset under Management to $24.5 bln, the lowest since January of 2021.
Bitcoin’s low price caused massive panic in the crypto market regarding the future of cryptocurrencies.
Polarised Sentiments Among Investors
Despite the record-high outflows from Provision Investments in Canada, other providers and countries mostly saw investment inflows. United States had a weekly inflow of $40M inflow in digital asset investment products, while Germany and Switzerland had approx $11M and $10M weekly inflows respectively.
Moreover, the outflows were mainly focused on Bitcoin. Ethereum reversed an 11-week outflow trend to record an $11M inflow. Short bitcoin also saw an inflow of $15M, following ProShare’s Short Bitcoin ETF announcement.
The outflow-inflow pattern reveals highly polarised sentiments among digital assets investors.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Fed Chair Race Tightens as Hassett’s Odds Slip Below 50% Ahead of Trump’s Decision
- Fed Injects $26 Billion: Will the Crypto Market Record a Year-End Rally?
- XRP Sell Pressure Intensifies amid Rising Inflows to Binance, South Korean Exchanges
- Crypto ETFs in 2026: What to Expect for Bitcoin, Ethereum, XRP, and Solana
- BlackRock Moves $200M BTC and ETH as Crypto ETPs See $3.2B Outflows Since October 10 Crash
- Binance Coin Price Risks Crash to $700 as Key BSC Metric Plunges 80%
- SUI Price Forecast: What’s Next for SUI in 2026 After $78.9M Token Unlocks?
- Solana Price Prediction: How High Could SOL Go in January 2026?
- Top 3 Predictions for Bitcoin price, Ethereum price and XRP price for 2026 According to Analysts
- Is $1 Dogecoin Price Technically Possible in 2026?
- Bitcoin Price Year-End Prediction: Analysts Highlight Key Levels Before 2025 Close
