CoinShares: Last week, digital asset investment products saw outflows of $2.9 billion, marking the third consecutive week of outflows

ChainCatcher news, CoinShares' latest weekly report shows that digital asset investment products have experienced outflows for the third consecutive week, with last week's outflow reaching a record $2.9 billion, bringing the total outflow over three weeks to $3.8 billion. CoinShares analysis suggests that this round of outflows is influenced by multiple factors, including the recent Bybit hacking incident, the Federal Reserve's more hawkish stance, and profit-taking after a cumulative inflow of $29 billion over the previous 19 weeks.

The report indicates that Bitcoin bore the brunt of the impact, with an outflow of $2.59 billion last week, while short Bitcoin products saw a slight inflow of $2.3 million. Ethereum also did not escape, with a record single-week outflow of $300 million. Solana and TON saw outflows of $7.4 million and $22.6 million, respectively. The best performer was Sui, with an inflow of $15.5 million, followed by XRP, which saw an inflow of $5 million.