CoinShares' weekly report reveals crypto ETF outflows reached $584 million last week. US Bitcoin ETFs saw major outflows, CoinShares speculates that correction is underway. Multi-asset crypto products saw $98 million in inflows. The recent increased outflows may engender a steeper crypto correction. Crypto ETFs record outflows for the second week in a row Global crypto ETFs experienced increased outflows in the past week, totaling $584 million as of Friday.
Read more:Bitcoin price set to retest key support level amid ETFs outflow and miners reserve concerns Bitcoin ETFs continue to experience the highest outflows with $630 million in total. This follows a continuous decline in the asset's price, which closed the past week at $63,000 and has dipped to $60,900 at the time of writing. Ethereum investment products also saw their fair share of outflows last week.
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