Institutional selling of crypto reaches longest streak since Feb 2018

Institutional selling of crypto reaches longest streak since Feb 2018

Institutional managers continued to take profits on their cryptocurrency holdings, with funds dedicated to Bitcoin (BTC) registering their sixth consecutive weekly outflows, according to CoinShares. Outflows from digital asset investment products totaled $79 million last week, marking the third consecutive weekly decline and the longest stretch of drawdowns since February 2018. Outflows from Bitcon funds totaled $89 million, whereas Ethereum (ETH) products endured a $1.9 million decline. Year-to-date, Bitcoin investment products have generated over $4.1 billion

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