Institutions are evenly split on crypto funds this week, according to the latest analysis from CoinShares. The firm’s latest report shows that the last seven days were marked by a meager $11.2 million in outflows,suggesting that neither bulls nor bears are in charge.

Digging a bit deeper, however, the larger picture reveals more insight. Trading volumes jumped 90% above the year-to-date average, skyrocketing to $2.8 billion over the same period.

“I liken it to a duck,” James Butterfill, head of research for CoinShares, told Decrypt. “On the surface, not much is happening, but underneath it’s swimming like mad.”

He said the numbers can be attributed to last week’s roller coaster of legal and emotional ups and downs in the crypto market.

Grayscale celebrated as the institution won its appeal against the SEC to convert its Bitcoin trust to an ETF. The party was short lived, however, after the regulatory agency Go to Source to See Full Article
Author: Pedro Solimano

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