TLDR
- Crypto investment products recorded $1.94 billion in outflows during the past week.
- Bitcoin investment products saw $1.27 billion in withdrawals as prices dropped to $80,600.
- Ethereum products experienced $589 million in outflows while prices fell to around $2,600.
- The four-week outflow total reached $4.92 billion, marking the third-largest exodus since 2018.
- Bitcoin products attracted $225 million in inflows on Friday, ending seven days of redemptions.
Crypto investment products saw $1.94 billion in combined outflows last week, according to CoinShares. The withdrawals affected digital asset vehicles across multiple cryptocurrencies and regions. This marked the fourth consecutive week of outflows for the sector.
The extended losing streak brought the four-week total to $4.92 billion in redemptions. This ranks as the third-largest outflow period since 2018. Institutional investors pulled funds as market conditions deteriorated throughout the week.
Bitcoin and Ethereum Lead Weekly Outflows
Bitcoin investment products recorded $1.27 billion in outflows during the week. The leading cryptocurrency dropped to approximately $80,600, reaching a multi-month low. However, Bitcoin products attracted $225 million in inflows on Friday, breaking seven consecutive days of withdrawals.
Ethereum faced $589 million in outflows as prices fell to around $2,600. The second-largest cryptocurrency experienced heightened selling pressure throughout the period. Yet Ethereum products rebounded on Friday with $57.5 million in inflows.
Other cryptocurrencies also experienced redemptions during the turbulent week. Solana products saw $156.2 million in outflows while multi-asset vehicles lost $35.9 million. Sui investment products recorded $5 million in withdrawals as bearish sentiment spread.
Short Bitcoin products gained $19 million in new investments as traders bet against prices. Litecoin attracted $3.3 million in fresh capital, while Cardano received $100,000. These inflows remained minimal compared to overall market outflows.
XRP Attracts Fresh Capital
XRP investment products bucked the trend with $89.3 million in inflows. The digital asset’s total assets under management reached $2.23 billion. Two new exchange-traded funds drove increased institutional interest in XRP.
The Canary XRP ETF and Bitwise XRP ETF launched during this period. Both products helped channel new investments into XRP-related vehicles. This contrasted sharply with outflows affecting Bitcoin and Ethereum products.
Regional Breakdown Shows US Dominance
The United States led global outflows with $1.68 billion in redemptions. Germany followed with $118.2 million in withdrawals from crypto investment products. Switzerland, Canada, and Sweden recorded outflows of $79.7 million, $27.1 million, and $26.8 million, respectively.
Brazil and Australia posted positive inflows totaling $3.5 million and $2 million. These regions defied the global trend of withdrawals. The geographic distribution highlighted varying investor sentiment across markets.
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