Institutional Investors Dump $521,000,000 in Bitcoin and Ethereum in One Week, While Buying XRP, Solana and Sui: CoinShares
Institutional investors are once again selling Bitcoin and crypto investment projects.
After an opening week of inflows, digital asset products saw $454 million in outflows for the week ending January 10th, according to CoinShares.
This reversed much of the $1.5 billion gains from early January, driven by fears over delayed Federal Reserve rate cuts.
Bitcoin led the sell-off with $405 million in outflows, while short-Bitcoin positions shed $9.2 million. Ethereum followed, losing $116 million.
Multi-asset funds dropped $21 million, Binance $3.7 million, and Aave $1.7 million.
Yet, some assets bucked the trend: XRP gained $45.8 million, Solana $32.8 million, and Sui $7.6 million.
Regionally, the U.S. dominated outflows at $569 million. In contrast, Germany added $58.9 million, Canada $24.5 million, and Switzerland $21 million.
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The post Institutional Investors Dump $521,000,000 in Bitcoin and Ethereum in One Week, While Buying XRP, Solana and Sui: CoinShares appeared first on The Daily Hodl.
