Crypto Funds See $2 Billion Outflows Amid Bitcoin, Ethereum Selloff

Digital asset investment products experienced up to $2 billion in outflows last week, as reported by CoinShares. The primary reasons identified include monetary policy uncertainty and selling by crypto-native whales.

Bitcoin and Ethereum were major contributors to these outflows.
The outflows are the largest since February, marking three consecutive weeks, with a total of $3.2 billion in outflows.
Total Assets Under Management (AuM) in digital asset ETPs dropped from $264 billion in early October to $191 billion, a 27% decline.
Bitcoin saw outflows of $1.38 billion, representing 2% of its total AuM.
Ethereum recorded $689 million in outflows, amounting to 4% of AuM.
Minor outflows included Solana at $8.3 million and XRP at $15.5 million.

Additionally, Bitcoin's price fell significantly from its ATH of approximately $126,000 to around $95,000. Gold advocate Peter Schiff criticized Bitcoin, urging investors to shift to gold, highlighting its recent performance as it regained $4,100 levels. In contrast, Robert Kiyosaki continues to support Bitcoin investments.