CoinShares, a digital assets manager, has reported that institutional investments in crypto products experienced their third consecutive week of outflows. According to CoinShares’ latest Digital Asset Fund Flows report, crypto investment products saw $435 million in outflows last week, marking the largest week of outflows since the previous month. The report also highlighted that trading volumes in exchange-traded products (ETPs) dropped to $11.8 billion, compared to $18 billion the previous week, while Bitcoin prices declined by 6%. The US witnessed $388 million in regional outflows; however, inflows for the year remain at a record $13.6 billion. The majority of the outflows were from Grayscale, with $440 million, the lowest in nine weeks. Additionally, there was a deceleration in inflows from new issuers, with only $126 million in inflows last week, compared to $254 million the previous week. Germany and Canada also experienced regional outflows, while Switzerland and Brazil saw inflows of $4 million and $5 million, respectively. Leading crypto assets Bitcoin and Ethereum suffered outflows of $423 million and $38 million, respectively. On the other hand, Solana, Litecoin, and Chainlink enjoyed inflows of $7 million, $4 million, and $3 million, respectively.
