"Last week, $1.7 billion net outflow from crypto investment products... $6.4 billion has flowed out over 5 weeks"

Last week, $1.7 billion (2.4633 trillion won) was reported as net outflow from global crypto (cryptocurrency) products.

CoinShares revealed this in a report on the 17th (local time). This marks the fifth consecutive week of capital outflows, with a total of $6.4 billion (9.2736 trillion won) flowing out during this period. CoinShares explained, "Due to price declines and continued outflows, the total assets under management (AUM) of crypto products decreased by $48 billion," but added, "The cumulative inflows for the year still remain positive ($912 million)."

Bitcoin (BTC) products in particular saw strong outflows. According to the report, Bitcoin products experienced a net outflow of $978 million last week, recording a net outflow of $5.4 billion over five weeks. Ethereum (ETH) and Solana (SOL) saw net outflows of $175 million and $2.2 million respectively. However, XRP products recorded a net inflow of $1.8 million.

By country, outflows from U.S. products were severe. Last week, $1.16 billion flowed out of U.S. crypto products. This represents about 93% of the total outflow. Switzerland ranked second with an outflow of $527.7 million. Germany, on the other hand, saw a net inflow of $8 million.