Crypto exchange-traded products (ETPs) experienced notable outflows last week, totaling $1.43 billion. This followed a two-week bull market that brought in $4.3 billion in inflows. The majority of cryptocurrencies witnessed price declines. Bitcoin had a steep drop from above $116,000 on August 18th to $112,000 by the end of the trading week, while Ether dropped below $4,100 on Tuesday after starting at around $4,250. Bitcoin ETPs contributed the most to outflows, exceeding $1 billion. Ethereum’s mid-week recovery limited its outflows to $440 million in the past 30 days. Despite this, Ethereum has seen a robust $2.5 billion in inflows over the past month, surpassing Bitcoin’s net outflow of $1 billion. This surge has boosted Ethereum’s share of year-to-date asset-under-management inflows to 26%, significantly higher than Bitcoin’s 11%. CoinShares, a crypto research firm, reports that XRP led the inflow with $25 million followed by Solana and Cronos at $12 million and $4.4 million respectively. Meanwhile, Sui experienced outflows of $12.9 million, and Ton saw outflows of $1.5 million. 2023 is shaping up as a pivotal year for the crypto market. This latest data suggests that market dynamics are shifting as individual traders make decisions independent of Fed influence.