Institutions Selling Bitcoin, Ethereum and Solana Buy These 5 Altcoins
He imbalances in crypto asset investment products are becoming visible with recent developments. For the second week in a row, outflows totaled USD 206 million. The fluctuation in the cryptocurrency market has a particular impact on the outflows. Bitcoin and cryptocurrencies have been in effective declines recently.
Trading Volumes on ETPs
While trading volumes on ETPs were slightly down at $18 billion, what is particularly noteworthy is that this figure, which represents 28% of total Bitcoin volumes, is down from 55% a month ago. This seems to be a reflection of market uncertainty and investor caution.
According to the data, the appetite of ETP/ETF investors continues to wane. This is probably due to expectations that the Fed will keep interest rates at higher levels for longer than expected.
Exits in the US
Regionally, the negative sentiment from US ETFs was evident. Outflows of USD 244 million were focused on existing ETFs, while inflows into newly-issued ETFs fell markedly. However, inflows continued in Canada and Switzerland.
Ethereum Outflows continue
Ethereum, on the other hand, saw outflows of $34 million for the 6th consecutive week. On the flip side, multi-assets saw an improvement last week with inflows of US$9 million. Litecoin and Chainlink saw inflows of $3.2 million and $1.7 million respectively.