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Institutional investors just sold an overall total of $288 million in Bitcoin and crypto assets in one week, according to a new update from Coinshares.
The outflows mark the fifth consecutive week of selling, bringing cumulative year-to-date outflows to $4 billion.
Bitcoin drove the bulk of the selling with $215 million in outflows. Short-bitcoin products attracted $5.5 million in inflows, the largest of any asset.
Ethereum posted the second-largest outflows at $36.5 million. Multi-asset products lost $32.5 million, while Tron recorded $18.9 million in outflows.
Minor inflows hit select altcoins, with XRP gaining $3.5 million, Solana adding $3.3 million and Chainlink gaining $1.2 million.
Regionally, the US led with $347 million in outflows. Europe and Canada combined saw $59 million in inflows, led by Switzerland at $19.5 million, Canada at $16.8 million and Germany at $16.2 million.
Trading volumes fell sharply to $17 billion, the lowest level since July of last year.
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Featured Image: Shutterstock/80’s Child
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