Institutional investors just sold a total of $288 million worth of Bitcoin and crypto assets in one week, according to a new update from Coinshares.
These releases mark the fifth consecutive week of sales, bringing cumulative year-to-date releases to $4 billion.
Bitcoin generated the bulk of sales with $215 million in outflows. Short-bitcoin products attracted $5.5 million in inflows, the largest of any asset.
Ethereum saw the second largest outflow at $36.5 million. Multi-asset products lost $32.5 million, while Tron saw $18.9 million in outflows.
Minor inflows hit some altcoins, with XRP gaining $3.5 million, Solana adding $3.3 million, and Chainlink gaining $1.2 million.
Regionally, the United States leads with $347 million in outflows. Europe and Canada combined saw $59 million in entries, led by Switzerland with $19.5 million, Canada with $16.8 million and Germany with $16.2 million.
Trading volumes fell sharply to $17 billion, the lowest level since July last year.
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