Institutional investors just sold an overall total of $1.67 billion in Bitcoin and crypto assets in one week, according to a new update from Coinshares.

The outflows mark the third consecutive negative week and the second-largest weekly outflow of the year, with three-week cumulative outflows now standing at $4.21 billion.

Bitcoin led the selling with $1.438 billion pulled out, which is its biggest weekly outflow this year. Ethereum witnessed $257 million in outflows.

US products accounted for most of the redemptions at $1.63 billion. Germany recorded $25.7 million, Sweden $6.6 million and Hong Kong $4.5 million in outflows.

Assets under management dropped to $141 billion, the lowest level since early April. Year-to-date Bitcoin inflows have compressed sharply to just $1.2 billion.

Altcoin participation also dropped, and only five assets saw inflows above $1 million. XRP led with $20.3 million, followed by Hyperliquid at $10.8 million and Near at $7.6 million.

The heavy selling reflects deepening risk-off sentiment linked to Iran tensions, which has overwhelmed any positive effect from progress on the CLARITY Act.