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Crypto-based investment products have faced substantial outflows for the fifth consecutive week. According to recent figures shared by CoinShares, there was a withdrawal of $1.7 billion from crypto-based investment products in the last week alone. This brings the total outflow over the five weeks to $6.4 billion, marking the longest streak of withdrawals since 2015, with Bitcoin (BTC) 
$104,275 and Ethereum (ETH) 
$2,491 experiencing the largest withdrawals. Interestingly, XRP moved against the market trend with a small inflow, while the majority of outflows originated from the United States.
Investors Sell Bitcoin and Ethereum, Buy XRP and Cardano
Bitcoin-based investment products have suffered the biggest loss due to this ongoing outflow trend. In the past week alone, these products saw withdrawals totaling $978 million, and over the last five weeks, the total reached $5.4 billion. Notably, short positions against Bitcoin have also diminished, with a $3.6 million outflow reflecting a loss of investor interest.
Ethereum-based investment products similarly felt the impact of declining investor confidence, with $175 million withdrawn in the last week. Solana 
$172 (SOL) products shared a similar fate, recording an outflow of $2.2 million. In contrast, XRP and Cardano 
$0.794322 (ADA) products managed to attract attention, with respective inflows of $1.8 million and $400,000.
Moreover, the major cryptocurrency exchange Binance experienced a significant drop in asset management, with total assets under management decreasing to $15 million following the exit of a seed investor.
Significant Fund Withdrawals in the U.S. and Switzerland
Regionally, the largest outflows occurred in the United States. In the past week, $1.16 billion was withdrawn from the market, accounting for 93% of the outflows over the last five weeks. Following the U.S., Switzerland recorded significant outflows, with a large investor withdrawing $528 million. Germany experienced a minor influx of $8 million during this period.
The decline in investor confidence towards the crypto market has also affected interest in Blockchain companies. Recently, there was a $40 million outflow from Blockchain-based companies. Overall, asset management decreased by $48 billion, highlighting the drastic shift in investor sentiment.
