Institutional investors are once again selling off Bitcoin and crypto investment projects.
After an initial week of inflows, digital asset products saw outflows of $454 million for the week ending January 10, according to CoinShares.
That wiped out much of the $1.5 billion in gains seen in early January on concerns about the Federal Reserve’s delayed rate cuts.
Bitcoin led the selling with $405 million in outflows, while Bitcoin short positions lost $9.2 million. Ethereum followed, losing $116 million.
Multi-asset funds lost $21 million, Binance lost $3.7 million and Aave lost $1.7 million.
Still, some assets bucked the trend: XRP gained $45.8 million, Solana $32.8 million, and Sui $7.6 million.
Regionally, the United States dominated remittance outflows, with $569 million. In contrast, Germany added $58.9 million, Canada $24.5 million and Switzerland $21 million.
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