The statement is strongly supported by multiple, high-authority sources. Both The Economic Times and The Block, credible financial and crypto-native news outlets respectively, directly report a weekly outflow of $1.2 billion from global crypto ETPs. Furthermore, several sources independently identify the asset manager CoinShares and its "Digital Asset Fund Flows Weekly Report" as the primary origin of this data, which explains the consistency across different publications and adds a significant layer of credibility. Two other sources report a slightly different figure of $1.17 billion. This is not a contradiction but rather corroborating evidence, as the minor difference is almost certainly due to rounding ($1.17 billion rounded to one decimal place is $1.2 billion). The fact that these sources also cite CoinShares as the data provider reinforces this conclusion. While some of the provided high-authority sources (Reuters, Bloomberg) were not directly relevant to the specific claim, they did not offer any contradictory information. The convergence of evidence from multiple independent reports, all pointing to a single, reputable primary source, provides high confidence in the truthfulness of the statement.