According to CoinShares, redemptions from crypto exchange-traded products extended to a third straight week, with U.S.-based investment funds accounting for most of the withdrawals.
Global crypto exchange-traded products, or ETPs (exchange-traded crypto investment products), recorded $1.7 billion in outflows over the latest reported week, according to CoinShares. The report says the redemption streak has now stretched to three consecutive weeks, with U.S.-based funds driving the bulk of the withdrawals. Persistent outflows from crypto ETPs typically indicate weaker short-term investor demand for listed digital-asset products, especially in major markets such as the United States.