Crypto Investment Products Experience Significant Outflows
- Total outflows from crypto investment products reached $4.21 billion over the past three weeks.
- Bitcoin (BTC) ETPs saw the largest weekly outflow of $1.44 billion, marking a record for this year.
- Ether (ETH) funds experienced $257.3 million in outflows, totaling year-to-date losses of $346 million.
- The United States accounted for $1.63 billion of global outflows, including $1.42 billion from US-listed spot Bitcoin ETFs.
- XRP led inflows among cryptocurrencies with $20.3 million, while Hyperliquid and Near had inflows of $10.8 million and $7.6 million, respectively.
The ongoing sell-off in the crypto market has been attributed to limited institutional demand and underperforming equities, with no clear catalyst identified for the downturn.
As a result of these trends, total assets under management have fallen to $141 billion, the lowest since early April, highlighting a challenging environment for digital assets.(Source)
