Crypto investment hit record outflows amid Middle East tensions

Bitcoin is trading around the $63,000 level on Monday as a CoinShares report reveals that crypto investment products recorded outflows totaling $147 million last week, breaking their three-week inflow streak.

Crypto assets witness outflows stirred by negative flows in Bitcoin ETFs
Crypto ETFs recorded outflows totaling $147 million last week, according to CoinShares’ weekly report. The outflows broke a three-week inflow streak of nearly $2 billion.

On the regional level, the US witnessed the highest share of outflows, amounting to $209 million. Germany and Hong Kong also recorded outflows totaling $8.3 million and $7.3 million, respectively.


On the contrary, Canada and Switzerland recorded inflows of $43 million and $35 million, respectively.

Among the asset classes, Bitcoin ETFs were the major focus among investors, with outflows totaling $159 million last week. Conversely, short-bitcoin ETFs witnessed inflows of $2.8 million.

While CoinShares noted that the high outflows were likely a result of the drop in the US Unemployment Rate in September, the Bureau Labor of Statistics only released the data on Friday, which was a positive day for Bitcoin ETFs