Crypto Investment Products See Nearly $7.2B in Outflows, Derailing Gains

Digital asset exchange-traded products (ETPs) experienced significant outflows last week, reaching nearly $7.2 billion since February, wiping out the year-to-date inflows for investment products. According to CoinShares’ report, investors pulled over $800 million from crypto ETPs across the week, with Bitcoin and Ether product sales accounting for a large portion of this outflow. Notably, some altcoins saw gains in contrast to the overall trend, including XRP, Ondo Finance, Algorand, and Avalanche.