CoinShares: Crypto ETPs See Largest Weekly Outflow Since February, with $2 Billion Withdrawn
ChainCatcher News, according to a CoinShares report, global cryptocurrency ETPs saw a total outflow of $2 billion last week, a 71% surge compared to the previous week's $1.17 billion, marking the largest weekly redemption since February. This is the third consecutive week of outflows, with a cumulative total of $3.2 billion withdrawn.
Researcher James Butterfill attributed the withdrawals to monetary policy uncertainty and sell-offs by crypto whales. As a result, total assets under management for crypto ETPs have plummeted 27% from the October peak of $264 billion to $191 billion.
The United States accounted for 97% of the total outflows ($1.97 billion), while Germany bucked the trend with an inflow of $13.2 million. Bitcoin ETPs saw outflows of $1.4 billion (2% of total assets), Ethereum ETPs had redemptions of $700 million (4%), and Solana and XRP products saw outflows of $8.3 million and $15.5 million, respectively.
Notably, multi-asset allocation ETPs recorded a net inflow of $69 million over three weeks, while short Bitcoin funds attracted $18.1 million during the same period, indicating that investors are shifting towards risk diversification strategies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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