Institutional Investors Bitcoin Sell-off Turning To Other Alt-Digital Assets

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It’s the fourth week in a row now since the outflow of Bitcoin institutional held investments as they relinquished their holdings of the digital asset bitcoin which is said that these investor’s sentiment toward the market is bearish. In a weekly report from coin shares, the digital asset company discovered institutional investors have sold off over $54 million worth of their bitcoin holdings for their last four weeks straight.

In their report they denote that; Digital asset investment products saw a 4th consecutive week of outflows totalling US $54 million, bringing the total outflow to US $200 million, representing 0.6% of total assets under management (AuM). The recent price declines have seen total AuM fall by 13% since their mid-April peak.

From their analysis, the rate of inflows was less than that of the outflow has was seen that institutional investors are taking turns to other alternative digital assets which were tagged as them has been selective and adventurous one of these assets which saw these inflows was Sandbox($sand).

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