Weekly Outflows from Crypto Investment Products Hit $528M

Reading Time: < 1 minute

According to the latest report from CoinShares, global investment products in the cryptocurrency market, managed by companies such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares, experienced net outflows of $528 million last week.

This was the first time in a month that these products reported a decline in total investments.

James Butterfill, Head of Research at CoinShares, explained that these outflows were a response to concerns about a potential recession in the US, geopolitical issues, and overall market volatility that led to liquidation of assets across various categories.

As a result, the total value of Exchange-Traded Products (ETP) in the market decreased by $10 billion.