Institutional investors are selling off Bitcoin and crypto assets as the year ends.
According to a new update from CoinShares, digital asset investment products saw $446 million in outflows last week.
This brings the total outflow since the October 10 stock market crash to $3.2 billion.
Bitcoin (BTC) dominated last week’s withdrawals with $443 million in outflows, while Ethereum (ETH) saw $59.5 million in outflows.
In contrast, XRP attracted $70.2 million in inflows, while Solana (SOL) saw $7.5 million in inflows.
The United States was the main driver of sales, with capital outflows of $460 million.
Switzerland added minor withdrawals of $14.2 million while Germany bucked the trend, recording $35.7 million in inflows.
Since the ETF launch in mid-October for XRP and Solana, Bitcoin has seen $2.8 billion in cumulative outflows and Ethereum $1.6 billion.
The XRP and Solana funds raised $1.07 billion and $1.34 billion, respectively, during the same period.
Follow us on X, Facebook and Telegram
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Surf the daily Hodl mix
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of 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/Digital Store/Nikelser Kate
