Despite crypto prices rising, institutions continue to serve at the behest of the bears, according to the latest report from CoinShares.

Bitcoin (BTC) was the most sold digital asset by a wide margin, accounting for 85% of all institutional activity, and marking $45 million worth of outflows. James Butterfill, head of research for CoinShares, considers it the most-loved investment product, as it drew inflows worth $12 million over the past month.

On the other hand, Ethereum (ETH)—fresh off its label as the least-loved digital asset in 2023—continues on a negative streak, reaching $4.8 million in sales by large entities over the past week. Its unfavorable rating is very much intact, clocking $117 million of outflows on the year. 

Numbers showcased by Ethereum have baffled Butterfill, who
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Author: Pedro Solimano

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