CoinShares, the digital assets management firm, has reported that institutional crypto products experienced consecutive outflows for the third consecutive week. According to the latest update from their Digital Asset Fund Flows report, these products collectively saw a decline of $30 million in investments over the past week.

“While digital asset investment products witnessed a third straight week of outflows amounting to $30 million, there was a notable slowdown in the pace of these outflows compared to previous weeks. Most providers experienced minor inflows, although Grayscale, as a notable exception, saw outflows amounting to $153 million.”

Despite the overall trend of outflows, there were regions such as the US, Brazil, and Australia that bucked the trend, recording inflows of $43 million, $7.6 million, and $3 million respectively. Conversely, negative sentiment prevailed in regions like Germany, Hong Kong, Canada, and Switzerland, which saw outflows amounting to $29 million, $23 million, $14 million, and $13 million respectively.

In terms of specific cryptocurrencies, Bitcoin (BTC) along with multi-asset investment vehicles Solana (SOL) and Litecoin (LTC) attracted inflows totaling $18 million, $10 million, $1.6 million, and $1.4 million respectively. However, Ethereum (ETH) faced significant challenges, recording its largest outflows since August 2022, with a total of $61 million leaving the platform. This brought Ethereum’s net outflows over the past two weeks to $119 million, making it the worst performer of the year in terms of net flows.

Chainlink (LINK) and XRP also saw minor inflows of $0.6 million and $0.3 million respectively during the period.

The report concludes with reminders and cautions about the risks associated with investing in cryptocurrencies and digital assets, emphasizing the need for investors to conduct thorough due diligence before making any high-risk investments.

Source: CoinShares