CoinShares: Crypto Products Bled Out for the Second Time in a Row to the Tune of $584 Million

Digital assets manager CoinShares says crypto products bled out last week for the second time in a row to the tune of $584 million.

CoinShares, a digital asset manager, has reported that crypto products experienced outflows last week, with a net outflow of $584 million, according to its Digital Asset Fund Flows report.

This marks the second consecutive week of outflows, following the $600 million reported the previous week.

Over the last two weeks, institutional investors have withdrawn a total of $1.2 billion from crypto investment products.

The outflows were primarily driven by Bitcoin (BTC) products, which saw outflows of $630 million.

Ethereum (ETH) products also experienced outflows, to the tune of $58 million, while Cardano (ADA) products lost $0.3 million.

Among altcoins, Solana (SOL), Litecoin (LTC), and Polygon (MATIC) products saw outflows of $2.7 million, $1.3 million, and $1 million, respectively.

However, multi-asset products saw inflows of $98 million, which the report suggests could be an indication that some investors viewed the weakness in the altcoin market as a buying opportunity.

The United States and Canada saw crypto product outflows of $584 million, while Germany and Hong Kong experienced outflows of $24 million and $19 million, respectively.

On the other hand, Switzerland and Brazil saw inflows of $39 million and $48.5 million, respectively.

News source：https://www.kdj.com/cryptocurrencies-news/articles/coinshares-crypto-products-bled-time-row-tune.html

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