Cryptocurrency exchange-traded products (ETPs) continue to experience significant outflows, reflecting a trend of reduced investor activity.
Crypto ETPs: Trends and Losses
Last week, crypto ETPs recorded a substantial outflow of $508 million, following $415 million the previous week. According to CoinShares, this decline is associated with macroeconomic factors, market volatility, and Federal Reserve Chair Jerome Powell's remarks.
Bitcoin ETPs: Leaders in Losses
Bitcoin investment products faced the largest losses, with a $571 million outflow. Conversely, investments in XRP products increased by $38 million, indicating investor expectations of a favorable resolution in the Ripple lawsuit.
Trading Activity and Regional Trends
Most crypto ETP trading activity came from the United States, with a $560 million outflow. In contrast, Europe saw gradual inflows, with Germany and Switzerland leading the way.
The ongoing outflows from crypto ETPs signal investor caution amid current macroeconomic conditions, particularly following the latest Federal Reserve statements.
