According to the latest report from CoinShares, the week ending April 26 saw a significant outflow of $435 million from cryptocurrency-based investment products.
This is the third consecutive week of outflows from cryptocurrency exchange-traded products (ETPs).
Bitcoin funds recorded the largest outflow, with $423 million exiting the market after the halving.
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Ethereum investment products also experienced withdrawals of $38 million, continuing their seventh consecutive week of negative inflows.
However, Solana and Litecoin ETPs recorded net inflows of $4.1 million and $3.1 million, respectively.
According to CoinShares, the decline in inflows is likely due to deceleration in inflows from new issuers, with only $126 million in inflows last week, down from $254 million the previous week.