Institutional Investors' Exodus from Bitcoin and Ethereum Continues

Recently, there has been a significant institutional outflow from Bitcoin and Ethereum. According to a report by CoinShares, a total of $1.17 billion has been withdrawn from digital asset funds in the last two weeks. The most important factors influencing this situation are the liquidity collapse that occurred on October 10 and uncertainties regarding interest rate cuts in the United States.

A total outflow of $932 million has been recorded from Bitcoin, while outflow from Ethereum amounts to $438 million. However, the $11.8 million inflow into short Bitcoin ETPs indicates that investors are maintaining a cautious stance in the short term.

U.S.-based funds lead this negative trend with a total outflow of $1.22 billion, while continued inflows into funds based in Germany and Switzerland are noteworthy. For example, funds in Germany saw an inflow of $41.3 million and funds in Switzerland recorded an inflow of $49.7 million.

In conclusion, although there is a general weakness in the crypto market, some altcoins are defying this trend. In particular, Solana has attracted $118 million in inflows over the past week, successfully drawing a total of $2.1 billion in funds over the last 9 weeks. Additionally, alternative assets such as HBAR and Hyperliquid are also of interest to investors.

At the end of the report, CoinShares analyst James Butterfill stated that European-based institutional investors continue to support the market. This situation indicates that the resilient flow in altcoins is a sign of a more selective risk appetite.