Analyst: Crypto funds recorded the largest weekly net outflow since February

According to The Block, CoinShares' latest data shows that investment products issued by crypto asset management firms (including BlackRock, Grayscale, Fidelity, etc.) experienced a net outflow of approximately $2 billion last week, marking the largest single-week withdrawal this year, and have recorded net outflows for three consecutive weeks, totaling $3.2 billion.

As digital asset prices have retraced, the overall management scale has decreased from $264 billion in early October to $191 billion. CoinShares' research director James Butterfill pointed out that changes in interest rate expectations, combined with ongoing selling pressure from large wallet addresses, have put pressure on market sentiment. This round of withdrawals mainly came from the United States, accounting for 97%, with a scale of approximately $1.97 billion; Switzerland and Hong Kong saw outflows of $3.99 million and $1.23 million, respectively. In contrast, German investors increased their holdings by approximately $13.2 million against the trend.

In terms of products, Bitcoin investment products saw a weekly outflow of $1.38 billion, with a cumulative outflow over three weeks accounting for about 2% of their total assets under management; Ethereum products recorded an outflow of $689 million, accounting for about 4% of their management scale. Solana and XRP also experienced slight redemptions. Butterfill added that despite the overall bearish sentiment, multi-asset products attracted $69 million in funds over the past three weeks, indicating that some investors prefer diversified allocations during periods of volatility; short Bitcoin products also saw net inflows, reflecting the market's hedging demand for further declines.