CoinShares: Digital Asset Investment Products See $414 Million in Net Outflows Last Week

CoinShares reported that digital asset investment products posted net outflows of $414 million last week, ending a five-week streak of inflows. Total assets under management fell to $129 billion, a level last seen in early February. Analyst James Butterfill attributed the reversal to elevated geopolitical tensions involving Iran and rising inflation expectations. He added that market pricing for the June Federal Open Market Committee (FOMC) decision has shifted from anticipating rate cuts to factoring in potential rate hikes. By region, the selling pressure was overwhelmingly concentrated in the United States, which recorded $445 million in net outflows. Switzerland saw a modest $4 million outflow. Germany and Canada "bought the dip," logging net inflows of $21.2 million and $15.9 million, respectively. By asset, Ethereum led weekly outflows at $222 million, which CoinShares linked to headlines around the Clarity Act. That brought Ethereum's year-to-date net outflow to $273 million. Bitcoin saw $194 million in weekly outflows but still showed $964 million in year-to-date net inflows. Solana posted a $12.3 million outflow. XRP was among the few to attract fresh money, with $15.8 million in net inflows over the week.