This week, institutional investors made small exits in altcoin projects worth a total of $7.5 million. However, most of the exits came from the short-term Bitcoin investment product. Therefore, the mentioned figure is extremely misleading. Only the long-term asset class remained uncertain. However, the market also saw $3.3 million worth of entries. Volumes averaged $2 billion per week this year. However, it only reached US$753 million last week. Thus, it showed low participation among investors.
Institutional investors sold these coins
Institutional investors made their heaviest sales in Ethereum, the leading altcoin project. ETH has continued to suffer from minor negative sentiments this week, as we reported on Kriptokoin.com. Thus, it added a new week to its losses that continued for 2 consecutive weeks. In the last 7 days, Ether has seen sales of 3.3 million dollars in total. Experts say these sales are due to a lack of clarity on the timing of the Staking. However, the highest outflow did not see ETH. Short Bitcoin has sold $11 million this week.
Besides leading cryptocurrencies like Bitcoin and Ethereum, other sales took place in Litecoin and Polkadot. Litecoin (LTC) has experienced sales of $ 0.9 million in the last 7 days. Thus, it revealed the decline in the interest of institutional investors in the altcoin project. Along with this, another digital asset, Polkadot (DOT), was in 4th place with $0.3 million in sales. As a result, institutional investors sold the most Short Bitcoin, Ethereum, Litecoin and Polkadot this week. But they have also started to buy some cryptocurrencies.
These 2 altcoins are on the radar of institutional investors
While not an altcoin, Bitcoin has been the top-purchased cryptocurrency by institutional investors this week. The $ 11 million outflow in Short Bitcoin showed itself in long-term Bitcoin. Accordingly, institutional investors invested $11 million in BTC. Apart from BTC, Solana and Polygon bought the most. Solana (SOL) investment products saw an inflow of $ 0.2 million from institutional investors. However, Polygon (MATIC) was the most in-demand altcoin with $0.3 million entry.
Most sales were in the USA
Regionally, entries came mostly from Canada and Germany. Investors in these countries purchased $12 million and $3.2 million in altcoin investment products, respectively. However, the US witnessed a total outflow of $15 million, 75% of which was short-term investment products. Thus, the highest output came from US institutional investors.
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