CoinShares’ latest report indicates that digital asset investment products have faced outflows for the fourth consecutive week, amounting to $251 million. This follows a previous week where $156 million flowed out.

Ethereum was the standout performer, halting a seven-week outflow streak and recording inflows of $30 million.

ETF Outflows and Inflows

The CoinShares report highlighted substantial outflows from newly issued exchange-traded funds (ETFs) in the U.S. last week, totaling $156 million. The drop in price by 10% may have triggered automatic sell orders, with an average purchase price of $62,200 per Bitcoin for these ETFs since their launch.

Grayscale Investments LLC, a major digital asset investment products provider, reported outflows of $277 million. Fidelity ETFs/USA, and ARK 21 Shares/USA also faced outflows of $131 million and $84 million, respectively, while unnamed providers saw significant inflows of $398 million.

There was a positive development in the crypto-ETF market last week, with spot-based Bitcoin and Ethereum ETFs in Hong Kong seeing inflows of US$307 million in their first week of trading.

Notably, significant outflows were not solely confined to the U.S., as Canada, Switzerland, and Germany also recorded outflows of $9.6 million, $9.8 million, and $7.3 million respectively.

Bitcoin and Ethereum Inflows

Bitcoin experienced $284 million in outflows last week while Ethereum saw inflows of $30 million, breaking its seven-week outflow streak.

Aside from these, Avalanche, Cardano, and Polkadot attracted investments, with many other altcoins also witnessing substantial inflows.