Institutional Investors Sell $414 Million in Crypto Assets Amid Market Concerns
- Total outflows reached $445 million from the US, marking the first selloff in five weeks.
- Ethereum faced significant losses with $222 million in outflows, totaling a year-to-date net outflow of $273 million.
- Bitcoin saw $194 million in outflows but retains a year-to-date inflow of $964 million.
- Germany and Canada recorded inflows of $21.2 million and $15.9 million respectively, capitalizing on the dip.
- XRP was one of the few gainers with inflows of $15.8 million during this period.
The recent selloff is attributed to ongoing concerns over the Iran conflict and rising inflation rates. As investors reacted to these macroeconomic factors, total assets under management in crypto fell to $129 billion, reflecting a cautious market sentiment.
The data indicates a turbulent week for cryptocurrencies, particularly for Ethereum and Bitcoin, which experienced substantial outflows despite Bitcoin’s overall positive year-to-date performance. (Source)
