Ethereum Is Losing Favor Among Institutional Investors: CoinShares - Decrypt
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Ethereum Is Losing Favor Among Institutional Investors: CoinShares
With $108 million worth of selling in 2023, it is the “least loved digital asset.” Institutions have fallen out of love with Ethereum in 2023, selling upwards of nine digits of the asset in the year to date.
According to the latest
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Institutional investors have been selling off Ethereum, with $108 million worth of outflows this year, making it the "least loved digital asset," according to CoinShares. The cryptocurrency saw $4.8 million in outflows last week alone, surpassing Tron as the most sold digital asset by large entities. However, the launch of the first Ethereum ETF in the US by Cathie Wood's Ark Invest could potentially change this trend. CoinShares' weekly report also showed a fourth consecutive week of selling, with total outflows reaching $59 million and North America being the primary source of selling.
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- Ethereum Is Losing Favor Among Institutional Investors: CoinShares With $108 million worth of selling in 2023, it is the “least loved digital asset.”
- Institutions have fallen out of love with Ethereum in 2023, selling upwards of nine digits of the asset in the year to date. According to the latest analysis by CoinShares, the number two cryptocurrency saw $4.8 million in outflows this past week, reaching $108 million in sales this year. That places it as the most sold digital asset by large enti...
- The analyst labeled it the “least loved digital asset” for exchange-traded product (ETP) investors, trouncing its second-place holder, Tron, by more than $50 million. However, all that could change soon after Cathie Wood’s Ark Invest applied for the first spot Ethereum ETF last week—the first of its kind in the United States. And that news comes ...
- What Ethereum has felt this year is broadly based among digital assets, per CoinShares. Sentiment regarding institutions purchasing crypto remains poor, according to their weekly report published this morning. It showed a fourth consecutive week of selling, with outflows totaling $59 million over the past seven days. The current run of outflows, ...
- Selling came primarily from North America, with Canada and the United States offloading $17.6 million and $12.3 million in the past seven days. Germany led the way across the Atlantic and into Europe, with $20 million worth of selling.
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