Crypto ETPs Witness Largest Weekly Outflows Since February as Investor Behavior Shifts

Crypto investment products saw their largest weekly withdrawals since February, shedding $2 billion last week. This decline in outflows stems from a decrease in global risk appetite, with analysts attributing the shift to uncertainty surrounding monetary policy and selling by major crypto investors known as ‘whales,’ according to CoinShares. 3 consecutive weeks of outflows have resulted in cumulative losses of $3.2 billion for crypto ETPs.