CoinShares: Cryptocurrency ETP experiences largest weekly outflow since February, with $2 billion exiting

According to a report by CoinShares, global cryptocurrency ETPs saw a cumulative outflow of $2 billion last week, a 71% increase from the previous week's $1.17 billion, marking the largest single-week redemption scale since February. This marks the third consecutive week of outflows, with a total of $3.2 billion withdrawn.
Researcher James Butterfill attributed the fund withdrawals to monetary policy uncertainty and selling by crypto whales. As a result, the total assets under management of crypto ETPs plummeted 27% from the October peak of $264 billion to $191 billion.
The U.S. accounted for 97% of the total outflow ($1.97 billion), while Germany saw an influx of $13.2 million. Bitcoin ETPs experienced outflows of $1.4 billion (2% of total assets), Ethereum ETPs had redemptions of $700 million (4%), and Solana and XRP products saw outflows of $8.3 million and $15.5 million, respectively.
Notably, multi-asset allocation ETPs recorded a net inflow of $69 million over the past three weeks, while short Bitcoin funds attracted $18.1 million during the same period, indicating a shift in investor strategy towards risk diversification.