Crypto funds log sharpest weekly exits since February amid macro jitters: CoinShares

Crypto investment products, managed by firms like BlackRock, Grayscale, and Fidelity, experienced $2 billion in global ETP outflows last week, marking the sharpest weekly exit since February. This brings the three-week total redemptions to $3.2 billion, coinciding with a significant drop in digital asset prices from an October peak of $264 billion to $191 billion in assets under management. CoinShares' head of research, James Butterfill, attributed the negative sentiment to shifting rate expectations and selling pressure from large crypto-native holders. The outflows were overwhelmingly led by the United States ($1.97 billion), though German investors added $13.2 million. Bitcoin ETPs saw $1.38 billion in outflows, and Ethereum products lost $689 million, while multi-asset ETPs attracted $69 million in inflows over three weeks.

(Source：The Block)