According to the latest report from CoinShares, digital asset investment products have experienced fund outflows for the third consecutive week. Last week, the outflow amount reached a record high of $2.9 billion, with a cumulative outflow of $3.8 billion over three weeks. Bitcoin was hit the hardest, with an outflow of $2.59 billion last week and a small inflow of $2.3 million from short selling Bitcoin products.
The outflow of funds mainly came from the United States (2.87 billion US dollars), Switzerland (73 million US dollars), and Canada (16.9 million US dollars), but German investors took advantage of the low price to absorb and inflow 55.3 million US dollars. Ethereum set a record for the largest outflow in a single week, reaching $300 million, with Solana and Ton experiencing outflows of $7.4 million and $22.6 million, respectively.
Sui performed the best, with inflows of $15.5 million and XRP inflows of $5 million. Blockchain stocks were also not spared, with an outflow of $25.3 million. CoinShares analysis believes that the Bybit hacking incident, the hawkish stance of the Federal Reserve, and the total inflow of $29 billion in the previous 19 weeks have weakened market sentiment and triggered some profit taking.
