Institutional investors withdrew $1.94 billion from crypto funds in a week, marking the third-largest outflow since 2018, according to CoinShares data.
Summary
- Crypto funds saw four straight weeks of outflows, totaling $4.92 billion, with bitcoin and ether hit the hardest.
- The outflow accounted for 2.9% of the total assets under management; this year’s inflows remain positive at $44.4 billion.
- XRP recorded inflows of $89.3 million, defying broader negative trends as bitcoin, ethereum and solana saw drawdowns.
Institutional investors withdrew a total of $1.94 billion from Bitcoin and cryptocurrency assets in a one-week period, according to data released by CoinShares.
The outflows marked the fourth consecutive week of withdrawals, with a total of $4.92 billion in that period, representing the third-largest outflows since 2018, the digital wealth management company said. reported.
The withdrawals represented 2.9% of the total assets under management. Combined with price declines, assets under management fell by 36%, according to the report.
Bitcoin (BTC) led the outflows with $1.27 billion in withdrawals, followed by Ethereum (ETH) with $589 million, according to CoinShares. Solana recorded an outflow of $156 million, while XRP (XRP) registered an inflow of $89.3 million, bucking the broader trend.
Selling pressure leads to a Bitcoin sell-off
Selling pressure eased on Friday, with inflows of $258 million after seven straight days of outflows, the company said. Bitcoin was responsible for $225 million of the inflows, while Ethereum saw $57.5 million.
Despite the recent outflows, inflows remained at $44.4 billion this year, according to CoinShares data.
The report comes amid continued volatility in the cryptocurrency markets.
