Weekly Outflows from Crypto Products Reach $726M

According to a recent report by CoinShares, cryptocurrency investment products experienced another difficult week, with a total of $726 million being pulled out.

According to James Butterfill, head of research for CoinShares, this matches the largest outflow seen since March 2024, when a record $942 million was pulled out.

Bitcoin-based products saw the most outflows, with $643 million being withdrawn, followed by Ether with $98 million.

The only asset to see inflows was Solana, with a total of $6.2 million coming in.

The selling trend is attributed to the negative market sentiment caused by stronger-than-expected macroeconomic data in the US, leading to speculation of a 25-bp interest rate cut.