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Institutional investors are selling Bitcoin and crypto assets as the year comes to a close.
According to a new update from CoinShares, digital asset investment products recorded $446 million in outflows last week
That brings the total outflows since the October 10th market crash to $3.2 billion.
Bitcoin (BTC) led last week’s withdrawals with $443 million in outflows, while Ethereum (ETH) posted $59.5 million in outflows.
In contrast, XRP attracted $70.2 million in inflows, while Solana (SOL) saw $7.5 million in inflows.
The United States drove most of the selling, with $460 million in outflows.
Switzerland added minor withdrawals of $14.2 million while Germany bucked the trend, posting $35.7 million in inflows.
Since mid-October ETF launches for XRP and Solana, Bitcoin has seen $2.8 billion in cumulative outflows, and Ethereum $1.6 billion.
XRP and Solana funds have drawn $1.07 billion and $1.34 billion respectively over the same period.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Digital Store/Nikelser Kate
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