New data shows digital asset funds faced $1.17 billion in outflows last week as institutional investors pulled back amid market jitters.
CoinShares says Bitcoin led the rout with $932 million in sales while short Bitcoin products drew $11.8 million, which is the highest number since May.
Ethereum recorded $438 million in outflows, while Solana added $118 million and XRP added $28 million.
CoinShares points to a couple of factors driving continued overall outflows.
“… Negative sentiment pervaded the markets due to ongoing gyrations in the crypto markets following the 10th of October liquidity cascade and uncertainty over a December interest rate cut in the US.”
Regionally, the US dominated outflows at $1.22 billion.
In contrast, Germany and Switzerland posted inflows of $41.3 million and $49.7 million, respectively.
Trading volumes spiked to $43 billion with a mid-week rebound on shutdown optimism before Friday’s reversal crushed sentiment.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ZinetroN/Number 86
The post Institutional Crypto Outflows Hit $1,170,000,000 As Investors Sell BTC and Ethereum, Buy Solana and XRP appeared first on The Daily Hodl.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.