CoinShares: Global crypto ETPs saw a net outflow of $3.74 billion over the past month, marking the fourth consecutive week of net outflows.

A recent report from CoinShares shows that global crypto asset investment products saw an outflow of $173 million last week, bringing the cumulative outflow over the past four weeks to $3.74 billion. James Butterfill, Head of Research at CoinShares, stated that the latest data indicates selling pressure has eased but not yet reversed. The week began with an inflow of $575 million, followed by an outflow of $853 million. On Friday, a $105 million inflow occurred due to lower-than-expected CPI data. Trading activity declined significantly this week, with ETP trading volume falling from a record $63 billion last week to $27 billion. Regionally, US digital asset funds saw an outflow of $403 million, while other regions saw inflows of $230 million. Germany led the way with $115 million in inflows, followed by Canada with $46.3 million and Switzerland with $36.8 million. In terms of specific assets, Bitcoin investment products saw an outflow of $133 million, while products shorting Bitcoin experienced a cumulative outflow of $15.4 million over the past two weeks. Ethereum-related funds saw an outflow of $85.1 million, and smaller products like Hyperliquid saw outflows of $1 million. In contrast, some altcoins recorded inflows: XRP saw an inflow of $33.4 million, Solana $31 million, and Chainlink $1.1 million. Currently, the price of Bitcoin remains below $70,000, and Ether, after two weeks of large-scale outflows, is trading below $2,000. (The Block)