Only SOL Received Institutional Investments Last Week: CoinShares
As crypto faces huge outflows for the third week, CoinShares claims institutional investors are gloomy about the sector.
CoinShares reports that institutional investors liquidated $54 million in crypto assets last week, mostly outside the US.
“Digital asset investment products saw outflows totaling US $54million last week, representing the 3rd consecutive week of negative sentiment for the asset class…
Regionally, the majority of outflows were from Germany and Canada with US $27million and US $20million respectively.”
CoinShares reported $32 million in BTC outflows.
“Bitcoin saw US $32 million of outflows last week. While sentiment in the US turned markedly positive, with inflows of US $ 18 million and the largest weekly outflows from short-Bitcoin on record of US $ 23million.”
CoinShares reported “unusually low” altcoin investment. Leading smart contract platform and altcoin Ethereum (ETH) lost $2.3 million, pushing its year-to-date outflows to $26 million. Multi-asset products received $0.1 million. SOL was the sole altcoin with inflows.
“Solana was the only other altcoin to see any activity with inflows of US$3.4m, the second largest over the last 12 months.”
Last week, blockchain equities lost $7.3 million, according to Coinshares.
