In the last five weeks, crypto investment products have experienced substantial outflows reaching $6.4 billion. Bitcoin and Ethereum have been among the most affected assets, while XRP and Cardano continue to attract investors' attention.
Mass Outflows from Crypto Products
Crypto investment products faced mass outflows that continued over the last five weeks. According to CoinShares, in the last week alone, $1.7 billion was withdrawn, bringing the total outflow to $6.4 billion. Bitcoin and Ethereum recorded the largest losses, with short positions against Bitcoin also declining, reflecting a decrease in investor interest.
Growing Popularity of XRP and Cardano
Ethereum-based investment products also suffered from declining investor confidence, with withdrawals totaling $175 million last week. Solana recorded similar losses with an outflow of $2.2 million. In contrast, XRP and Cardano products attracted attention, with inflows of $1.8 million and $400,000 respectively.
Significant Withdrawals in the U.S. and Switzerland
The largest outflows were recorded in the United States, where $1.16 billion was withdrawn last week, accounting for 93% of the outflows over the last five weeks. Switzerland also saw significant outflows, with a major investor withdrawing $528 million. Conversely, a minor influx of $8 million was observed in Germany during this period.
The declining trust in the crypto market has affected interest in Blockchain companies, with an outflow of $40 million. Asset management decreased by $48 billion, highlighting a dramatic shift in investor sentiment.
