Bitcoin, Solana Suffer As Institutional Investors Pull $600 Million Out Of Crypto Funds
Summary
Crypto funds saw $600 million in outflows last week, ending a five-week inflow streak. Bitcoin and Solana funds experienced the largest outflows, with $621 million and $0.2 million, respectively. The outflows coincided with a drop in Bitcoin's price and a more hawkish FOMC meeting. Ethereum had $13.1 million in outflows, while BNB, Litecoin, XRP, Chainlink, and Cardano saw inflows. Total assets under management fell from over $100 billion to $94 billion.
