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EthereumEthereums Record Outflows Bring Mixed Signals to Digital Asset Markets

Ethereums Record Outflows Bring Mixed Signals to Digital Asset Markets

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Digital asset investment products saw a decline in net inflows for the third consecutive week, reaching a total of $30 million. This trend reflects a mixed sentiment in the cryptocurrency market, as some assets experienced significant withdrawals.

According to the latest report from CoinShare, Ethereum witnessed its largest outflows since August 2022, with a recorded $61 million leaving the asset this week. Over the past two weeks, the outflow reached a total of $119 million, making Ethereum the worst-performing asset in terms of net flows for the year. In contrast, Bitcoin ETPs observed inflows of $10 million, while multi-asset products attracted $18 million, indicating a partial recovery or reallocation within the digital asset markets.

Trading volumes also showed an increase of 43% compared to the previous week, totaling $6.2 billion. However, this remains below the average weekly volume of $14.2 billion for the year. In terms of regional flows, the United States, Brazil, and Australia reported positive inflows, while Germany, Hong Kong, Canada, and Switzerland experienced notable outflows. The market also witnessed a rise in outflows from short-Bitcoin positions, amounting to $4.2 million, signaling a shift in investor sentiment towards Bitcoin. Altcoins such as Solana and Litecoin attracted investor interest, with inflows of $1.6 million and $1.4 million, respectively.

Despite the generally positive sentiment in the broader crypto market this year, blockchain equities faced a downturn, with outflows reaching $545 million. This amount represents 19% of their total assets under management, highlighting a bearish outlook among equity investors.

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