Global crypto investment products faced substantial outflows for the second consecutive week, with approximately $795 million exiting funds last week, according to data from CoinShares.
Global crypto investment products faced substantial outflows for the second consecutive week, with approximately $795 million exiting funds last week, according to data from CoinShares. This decline is attributed to ongoing tariff activities by President Donald Trump, which have dampened investor sentiment toward the crypto market.
The total outflows since early February have reached $7.2 billion, effectively negating year-to-date inflows, which now total just $165 million, as noted by CoinShares Head of Research James Butterfill.
The U.S. market led these outflows, with American investors withdrawing $763 million from crypto funds. In contrast, Canada, Brazil, and Australia saw modest net inflows of $2.7 million.
Bitcoin-related investment products reported the most significant losses, with a net outflow of $751 million last week. Despite this, year-to-date inflows for Bitcoin-based products still stand at approximately $545 million.
Notably, U.S. spot Bitcoin exchange-traded funds (ETFs) accounted for $707.9 million of the outflows, marking negative flows each day of the past week.
Ethereum investment products also experienced notable outflows, totaling $37.6 million, largely due to $82.5 million in withdrawals from U.S. spot Ethereum ETFs. Other cryptocurrencies, such as Solana, Aave, and Sui, saw modest outflows, while funds linked to XRP, Ondo, Algorand, and Avalanche reported minor inflows.
Despite the turmoil, a late-week rebound saw Bitcoin's price recover from below $75,000 to above $84,000. The GMCI 30 index of leading crypto recorded a 13% gain over the week, helping to lift total assets under management to $130 billion, an 8% increase from the lowest point on April 8.
In international trade, China announced retaliatory tariffs of 125% on U.S. goods, further escalating trade tensions. However, analysts suggest that potential negotiations regarding electronics and semiconductors may ease investor concerns.
BRN analyst Valentin Fournier indicated that the current economic climate, characterized by cooling inflation and expectations of interest rate cuts, could foster a more favorable environment for risk assets, with Bitcoin potentially retesting the $90,000 mark in the near future.
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