Institutional Investors Withdraw $446 Million from Bitcoin and Crypto Assets
- Total outflows since October’s market crash have reached $3.2 billion.
- Bitcoin (BTC) led last week’s withdrawals with $443 million, while Ethereum (ETH) saw $59.5 million in outflows.
- Conversely, XRP attracted $70.2 million and Solana (SOL) gained $7.5 million in inflows.
- The U.S. accounted for the majority of selling, with outflows totaling $460 million.
- Since mid-October ETF launches for XRP and Solana, Bitcoin has experienced cumulative outflows of $2.8 billion.
The recent trend of institutional selling highlights a significant shift in market sentiment as investors pull back from major cryptocurrencies like Bitcoin and Ethereum. In contrast, newer assets such as XRP and Solana are gaining traction among investors.
This week’s data underscores a critical moment for the cryptocurrency market as institutional confidence wanes, evidenced by over $446 million withdrawn in just one week. The ongoing trend may influence future investment strategies across the sector.
