Crypto ETFs Experience Outflows Amidst Market Uncertainty

Publicly traded crypto investment products saw a significant decline in investor activity during the early part of September. Trading volumes for these funds dropped by 27% week-over-week, according to CoinShares data, resulting in $352 million in outflows over the past week despite positive market sentiment following a weak US jobs report and potential interest rate cuts. Experts suggest this downturn is primarily attributed to Ethereum (ETH) products with large outflows of $912 million alone in the first days of September. Conversely, Bitcoin (BTC) products experienced inflows of $524 million, partially offsetting broader market weakness. 27% decrease in trading volume for crypto funds suggests a cooling down in mainstream investor interest.