US-based funds drive $1.7B in global crypto ETP outflows as redemption streak extends to three weeks: CoinShares
60-second summary
Global crypto ETP outflows surge to $1.67 billion last week, with US-based funds driving the trend. CoinShares reports a three-week redemption streak, with Bitcoin products experiencing their biggest weekly outflow of the year. This significant outflow signals a decline in investor confidence, potentially impacting the overall market sentiment and prices of major cryptocurrencies, including Bitcoin.
Global crypto ETP outflows hit $1.67 billion last week as Bitcoin products recorded their biggest weekly outflow of the year.