Ether investment products also saw $38M leave, marking their ninth week of negative flow.
Investors worry over U.S. stagflation—a slowing economic growth rate and sticky inflation.
According to CoinShares’ reporting, crypto investment products had a $435 million outflow for the week ending April 26. As the price of Bitcoin is stuck around the low $60,000 level, crypto exchange-traded products (ETPs) have seen withdrawals for three weeks in a row.
With $423 million leaving the market after the halving event, Bitcoin funds were the most active in the outflows category. Ether investment products also saw $38 million leave, marking their ninth week of negative flow. The Solana ETP had a net influx of $4.1 million, while the Litecoin ETP saw a net inflow of $3.1 million.
With $126 million in inflows last week compared to $254 million the week before, CoinShares claims that “deceleration in inflows from new issuers” is to blame for the negative outflows.
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