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Digital asset investment products recorded outflows totaling US$600 million last week. According to CoinShares’ weekly report, these were the biggest outflows since March 22, 2024. Despite this, altcoins Ethereum, LIDO and XRP recorded inflows in the last week of $13 million, $2 million and $ 1 million respectively.

As CoinShares highlighted, last week’s results occurred under similar circumstances: a period of significant inflows followed by a more aggressive than expected FOMC meeting. This has led investors to reduce their exposure to fixed supply assets.

“These outflows and the recent price selloff caused total assets under management (AuM) to fall from more than $100 billion to $94 billion during the week,” the firm said.

Ethereum and other altcoins ‘save the farm’

Also according to the report, trading volumes remain lower at US$11 billion for the week, compared to the weekly average of US$22 billion this year. However, they were well above US$2 billion per week last year. Digital asset ETPs are holding 31% of global trading volumes on trusted exchanges.

Regionally, the United States saw the most outflows worldwide totaling $565 million. But the negative feeling was not just concentrated there. After all, Canada, Switzerland and Sweden recorded outflows of US$15 million, US$24 million and US$15 million, respectively.

Germany bucked the trend with inflows of US$17 million. Likewise, Brazil recorded inflows, but more discreet, of US$ 700 thousand in the week.

Finally, CoinShares highlighted that the outflows were entirely focused on Bitcoin, with outflows of US$621 million. Furthermore, the decline also generated inflows of US$1.8 million in Bitcoin shorts.

According to data from CoinGecko, in the last week, the price of Bitcoin fell by more than 5%. At the time of writing, the price of BTC is at $65,780. Meanwhile, Ethereum has fallen by around 4% in the last week and is now priced at $3,523.

XRP appreciated 0.3% in the week to US$ 0.49, and LIDO jumped more than 10% and is currently costing US$ 2.10.

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