Ethereum, the world’s second-largest cryptocurrency, is facing a challenging year as institutional investors have been rapidly shedding their holdings. In a surprising turn of events, ETH has experienced significant outflows from institutional investors in 2023, with sales reaching over $108 million year-to-date.

This staggering figure marks Ethereum as the most sold digital asset among large entities, raising questions about its future performance and investor sentiment.

According to data from leading digital asset management firm CoinShares, digital asset investment products witnessed outflows of $59.3 million in the past week alone. This adds to a troubling trend, with nearly $300 million in total outflows over the last four weeks. 

ETH, in particular, has fallen out of favor …