CoinShares: Global Crypto ETPs See $3.74 Billion Outflows Over Past Month, Recording Net Outflows for Four Consecutive Weeks

According to the latest report from CoinShares, global crypto asset investment products saw outflows of $173 million last week, with cumulative outflows over the past four weeks reaching $3.74 billion.

James Butterfill, Head of Research at CoinShares, stated that the latest data indicates selling pressure has eased but has not yet reversed. The week began with inflows of $575 million, followed by outflows of $853 million. On Friday, due to CPI data coming in lower than expected, inflows of $105 million were recorded. Trading activity decreased significantly this week, with ETP trading volume dropping from a record $63 billion last week to $27 billion.

In terms of regional data, US digital asset funds saw weekly outflows of $403 million, while other regions collectively saw inflows of $230 million. Germany led with inflows of $115 million, followed by Canada and Switzerland with inflows of $46.3 million and $36.8 million, respectively.

By specific asset, Bitcoin investment products saw outflows of $133 million, while short Bitcoin products saw cumulative outflows of $15.4 million over the past two weeks. Ethereum-related funds saw outflows of $85.1 million, and smaller products like Hyperliquid saw outflows of $1 million. In contrast, some altcoins recorded inflows: XRP saw inflows of $33.4 million, Solana saw inflows of $31 million, and Chainlink saw inflows of $1.1 million. Currently, Bitcoin's price remains below $70,000, and Ether's price is below $2,000 after experiencing significant outflows over the past two weeks. (The Block)