Institutional Investors Sell $1,070,000,000 in Bitcoin and Crypto Assets in One Week, Ending Streak of Inflows: CoinShares
Institutional investors just sold an overall total of $1.07 billion in Bitcoin and crypto assets in one week, according to a new update from CoinShares.
The outflows are the first negative result in seven weeks and the third-largest weekly outflow of the year.
Bitcoin drove most of the selling with $982 million in outflows. Ethereum saw $249 million pulled out, which is its largest weekly outflow since January 30th.
Altcoins held up better, with XRP attracting $67.6 million in inflows and Solana pulling $55.1 million.
The US accounted for nearly all of the selling pressure, with $1.14 billion in outflows. Europe witnessed inflows led by $22.8 million in Switzerland and $22 million in Germany.
Total assets under management fell to $157 billion from $159 billion, with Bitcoin products bringing $3.9 billion in year-to-date inflows.
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The post Institutional Investors Sell $1,070,000,000 in Bitcoin and Crypto Assets in One Week, Ending Streak of Inflows: CoinShares appeared first on The Daily Hodl.
