Crypto Investment Products Experience Outflows for Fourth Consecutive Week

Outflows from crypto asset investment products persisted for the fourth straight week, reaching a total of $251 million. Notably, newly issued ETFs in the US experienced measurable outflows for the first time this week, amounting to $156 million. It is worth mentioning that the average buying price for Bitcoin in these ETFs has been $62,200 per unit. The price of BTC fell below 10% of this threshold last week, potentially triggering automatic sell orders.