CDS Crypto News Crypto Investment Products Experience $528M Net Weekly Outflows Amid Economic Uncertainty
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Crypto Investment Products Experience $528M Net Weekly Outflows Amid Economic Uncertainty

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Crypto Investment Products Experience $528M Net Weekly Outflows Amid Economic Uncertainty

Crypto Investment Products Face $528M in Net Weekly Outflows Due to Recession Fears

Crypto Investment– Global crypto investment products managed by firms like Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares saw net outflows totaling $528 million last week, marking the first time in a month this has happened, according to CoinShares’ latest report.

James Butterfill, Head of Research at CoinShares, attributed these outflows to fears of a recession in the US, geopolitical concerns, and broader market liquidations affecting most asset classes. He added, The price correction since Friday’s close has led to $10 billion being wiped off the total ETP AUM.

Crypto Investment Products Experience $528M Net Weekly Outflows Amid Economic Uncertainty

Bitcoin-based products led the outflows, accounting for $400 million of the total, following five weeks of net inflows. Short Bitcoin funds, however, saw significant net inflows for the first time since June, with an addition of $1.8 million.

The U.S. spot Bitcoin exchange-traded products (ETPs) contributed $80.6 million to the global outflow total, driven by $237.4 million in net outflows on Friday, which outweighed earlier net inflows.

On the Ethereum side, investment products experienced net outflows of $146 million globally last week. This was primarily due to $169.4 million in net outflows from U.S. spot Ethereum ETFs. Despite $433.6 million in net inflows into new Ethereum ETFs, this was overshadowed by $603 million in net outflows from Grayscale’s converted, higher-fee fund, ETHE. Total net outflows from these funds since they began trading last month now exceed $500 million.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto Investment Products Experience $528M Net Weekly Outflows Amid Economic Uncertainty

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