Crypto investment products registered minor weekly outflows last week as volumes plunged to their second-lowest levels of the year, signaling weak demand among institutional investors during the tail end of summer.
Outflows from digital asset investment products totaled $8.7 million in the week ending Sunday, CoinShares reported Monday. Bitcoin (BTC) investment products saw a third consecutive week of outflows totaling $15.3 million. Funds with direct exposure to Solana (SOL) also registered minor outflows totaling $1.4 million.
Meanwhile, Ether (ETH) and multi-asset investment products registered small weekly inflows of $2.9 million and $2.7 million, respectively.
Overall, crypto investment products registered $1 billion in weekly volumes, which is 55% below the yearly average.
CoinShares said most of the negative sentiment had been centered around Bitcoin, which tumbled last week after facing a stern rejection at $25,000. Bitcoin currently sits around $21,200, which is below its...
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