Global crypto investment products experienced
$305 million in net outflows last week, according to a report by CoinShares. This marks a reversal from the net inflows of
$543 million recorded the previous week.
Negative Sentiment Focused on Bitcoin
The outflows were primarily driven by negative sentiment towards Bitcoin, which saw
$319 million in net outflows. In contrast, short Bitcoin funds registered their second consecutive week of inflows, totaling
$4.4 million, the largest since March.
Impact on U.S. Spot Bitcoin ETFs
U.S. spot Bitcoin ETFs were particularly affected, with
$277.2 million in outflows, contributing to a monthly negative flow of
$94.2 million for the first time since April. This is a sharp contrast to July, which saw
$3.2 billion in total net inflows.
Ethereum and Solana-Based Funds
Global Ethereum investment products also faced challenges, with
$5.7 million in net outflows last week. U.S. spot Ethereum ETFs logged
$12.4 million in outflows. However, Solana-based funds bucked the trend, recording
$7.6 million in net inflows, while blockchain equities, particularly Bitcoin miner investment products, saw
$11 million in net inflows.
Read more at The Block.
