Outflows
Institutional investors have been pulling money out of crypto for the third week in a row, according to CoinShares. Digital asset investment products saw $30 million in outflows last week, with Ethereum (ETH) products leading the way.
Ethereum’s Woes
Ethereum has had one of its worst weeks in years, with $61 million in outflows. This brings the total outflows over the past two weeks to $119 million, making it the worst-performing asset year-to-date.
Regional Trends
Despite the overall outflows, some regions saw inflows. The US, Brazil, and Australia saw $43 million, $7.6 million, and $3 million, respectively.
Inflows and Outflows
While Bitcoin (BTC), multi-asset vehicles, Solana (SOL), and Litecoin (LTC) saw inflows, Ethereum, Chainlink (LINK), and XRP saw outflows.
Conclusion
Institutional investors are continuing to pull money out of crypto, with Ethereum being the hardest hit. It remains to be seen whether this trend will continue or if it’s just a temporary setback.
