Even if the spot price of bitcoin (BTC) increased significantly last week, 
outflows from investment funds backed by the cryptocurrency spiked. According to a recent report from CoinShares, the withdrawals from bitcoin funds for the week were $112. 8 million, which represents a minor improvement in investor mood.

Increasing Bitcoin Outflows to $95 Million: CoinShares Study Highlights Worrisome Trend


compared to the week prior, when $243.5 million departed BTC-backed funds. It's intriguing that record weekly inflows of $35 million for short bitcoin funds occurred at the same time as outflows from bitcoin funds.

which profit when bitcoin prices decline. ETH, the native token of Ethereum, had outflows of $12.7 million last week, a modest increase from the outflows of $11 million the week prior. The funds backed by other cryptocurrencies including litecoin (LTC), solana (SOL), polygon (MATIC), and XRP, 

as well as the aforementioned short-bitcoin funds, contributed to offset the net withdrawals,

which came in at $95 million overall for the digital asset industry. This past week was the sixth week in a row that bitcoin-specific and other cryptocurrency ETFs have lost money. The withdrawals, which were a stark contrast to the market's overall optimistic attitude,
 were explained by CoinShares as perhaps being caused by the desire for liquidity by major market participants. It is clear that this feeling is out of line with the rest of the cryptocurrency market, 

but the research said that it may also be influenced by the demand for cash amid the current financial crisis,

as was the case when the COVID panic originally broke out in March 2020. Investments in funds backed by alternative currencies, according to the article's inclusion, 

"additional legitimacy to the assumption that the outflow in the major crypto assets was spurred by the quest for liquidity."

Last week, the spot price of one bitcoin increased by a solid 27%, reaching a high of $27,973.