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Ethereum Investment Products Registered Record Outflows Last Week

Ethereum struggled with plenty of volatility during the previous seven days, but it also registered huge outflows, according to a report by CoinShares.

It has been revealed that Ethereum investment products registered around $50 million worth of outflows during the previous week, which would make it the highest number on record. This is a trend that Ethereum has been experiencing since May. Meanwhile, Bitcoin registered only small outflows, some worth just $1.3 million.

CoinShares declared: “Multi-digital asset investment products continued to buck the negative trend with inflows of US$6m last week, suggesting that investors continue to favor digital assets but are keen to diversify. This week most of the negative sentiment was focussed on Ethereum where net outflows totaled US$50m, the largest on record. These outflows represent 5% of the US$943 inflows year-to-date.”

The report also mentioned that: “Multi-digital asset investment products continued to buck the negative trend with inflows of US$6m last week, suggesting that investors continue to favor digital assets but are keen to diversify. This week most of the negative sentiment was focussed on Ethereum where net outflows totaled US$50m, the largest on record. These outflows represent 5% of the US$943 inflows year-to-date.”

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