Global crypto ETPs log $1.7 billion in weekly outflows as bearish macro sentiment spurs largest withdrawal since November: CoinShares

Global crypto investment products saw a significant reversal, logging $1.73 billion in outflows last week, marking the largest weekly pullback since mid-November, according to CoinShares data. This nearly erased the $2.2 billion in inflows recorded the prior week, reflecting a rapid shift in institutional positioning due to a deteriorating macro environment and negative price momentum. James Butterfill of CoinShares suggested that dwindling expectations for interest rate cuts and frustration over digital assets not participating in the "debasement trade" fueled the selling. Bitcoin products led the outflows with $1.09 billion withdrawn, followed by Ether ETPs with $630 million. The outflows were heavily concentrated in the United States, accounting for nearly $1.8 billion in redemptions. Conversely, Switzerland, Germany, and Canada saw modest inflows, and Solana products attracted $17.1 million, bucking the general trend.

(Source：The Block)