Crypto Investment Products Experience $454 Million in Outflows
- Total outflows from crypto investment products reached $454 million last week, following a four-day withdrawal period.
- Bitcoin (BTC) was the primary driver of negative sentiment, with $405 million in outflows.
- Ethereum (ETH) funds saw significant outflows of $116 million.
- In contrast, altcoin funds like XRP, Solana, and Sui recorded inflows of $46 million, $33 million, and $8 million respectively.
- The United States was the only market to experience major losses with outflows totaling $569 million.
- Despite recent withdrawals, month-to-date flows remain positive at $229 million after a previous week of $582 million in inflows.
Last week’s significant outflows reflect a shift in investor sentiment towards cryptocurrencies, particularly affecting Bitcoin and Ethereum. Meanwhile, altcoins have shown resilience with continued inflows amidst the overall downturn.
By the end of last week, crypto ETP issuers managed assets worth $181.9 billion, slightly up from the previous week’s total of $181.3 billion. (Source)
