Outflows Hit Crypto Products
Institutional investors have withdrawn a staggering $435 million from crypto products last week, marking the third consecutive week of outflows, according to CoinShares.
Bitcoin and Ethereum See Heavy Losses
Leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) experienced significant outflows of $423 million and $38 million, respectively.
Grayscale Outflows Decelerate
Grayscale, a major player in the crypto investment space, saw outflows of $440 million, the lowest in nine weeks. However, inflows from new issuers have also slowed down, with only $126 million recorded last week.
Altcoins Gain Traction
Multi-asset investment vehicles and altcoins such as Solana (SOL), Litecoin (LTC), Chainlink (LINK), and others have seen inflows, indicating a shift in institutional interest.
Regional Trends
The US accounted for the majority of outflows ($388 million), while Switzerland and Brazil witnessed inflows.
Implications for Investors
The outflow trend suggests that institutions are diversifying their crypto holdings beyond Bitcoin and Ethereum, seeking opportunities in alternative cryptocurrencies.
