Institutional Investors Pour $434,900,000 Into Ethereum, Solana and XRP in One Week – While Selling $946,000,000 in Bitcoin
Institutional investors sold an overall total of $513 million in crypto assets in the last week, according to a new update from CoinShares.
This marks the second consecutive week of outflows, bringing net sales to $668 million since the Binance-fueled liquidity cascade on October 10th.
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Bitcoin led the exodus with $946 million in outflows, bringing its year-to-date inflows down to $29.3 billion, well below last year’s $41.7 billion.
Ethereum bucked the trend, attracting $205 million in inflows as investors bought the dip.
A 2x leveraged Ethereum ETP alone drew $457 million, signaling strong conviction.
Solana and XRP also saw gains, with inflows of $156 million and $73.9 million respectively, fueled by hype around new ETP launches.
Regionally, the U.S. dominated outflows at $621 million.
In contrast, Germany, Switzerland, and Canada recorded inflows of $54.2 million, $48 million, and $42.4 million, viewing price weakness as an opportunity.
Overall exchange-traded product volumes rose to $51 billion, nearly double the yearly average, amid market gyrations.
