The Least Performing Ethereum Investment Product Among All Cryptocurrencies

Digital asset management company CoinShares reported a third consecutive week of outflows from institutional cryptocurrency products. According to the report, the outflow for digital asset investment products reached a total of $300,000 over the past week. Despite this trend, the scale of outflows has decreased compared to previous weeks. Many providers recorded small inflows, but these were overshadowed by the strong outflows of $15.3 billion from Grayscale. However, not all regions experienced negative trends. The US, Brazil, and Australia saw inflows of $430,000, $76,000, and $30,000 respectively. In contrast, Germany ($290,000), Hong Kong ($230,000), Canada ($140,000), and Switzerland ($130,000) saw strong outflows. Bitcoin (BTC), the largest cryptocurrency by market value, along with other altcoins such as Solana (SOL) and Litecoin (LTC), saw inflows of $180,000, $100,000, $16,000, and $14,000 respectively. Chainlink (LINK) and XRP also saw inflows of $6,000 and $3,000. However, Ethereum (ETH) faced significant challenges, experiencing its worst week since June 2022. Ethereum saw outflows of $1.19 million, making it the worst-performing asset in terms of net flows for the year.