In its latest weekly “Digital Asset Fund Flows Report” published on June 12, CoinShares, a European cryptocurrency investment firm, revealed that cryptocurrency investment products experienced outflows of $88 million during the past week. This considerable decrease added to the eight-week streak of outflows, which now amounts to $417 million. CoinShares analysts have attributed this ongoing trend to monetary policy considerations, as rising interest rates show no signs of abating, leading investors to remain cautious.

Over the past week, Ethereum (ETH) products experienced $36 million in withdrawals, the most since the Ethereum Merge back in September 2022.

Meanwhile, during the period under review, investments in Bitcoin (BTC) saw outflows amounting to $52 million. This brings the total outflows for Bitcoin over the past eight weeks to $254 million, which is roughly 1.2% of the assets under management (AUM). Additionally, short-Bitcoin products experienced outflows of $1.1 million, with the seven-week outflows representing 44% of AUM.

Altcoins had a “mixed fortunes” performance during this period. Litecoin (LTC), XRP (XRP) and Solana (SOL) saw minor inflows, while Polygon (MATIC) had outflows. Interestingly, with the exception of Tron, altcoins have seen net inflows year-to-date, which is in sharp contrast to Bitcoin and Ethereum, according to James Butterfill, author of the CoinShares report.

Interestingly, 87% of the outflows were concentrated in one provider, showing a regional effect. Most of these outflows were from North America, while Switzerland experienced small inflows of $9.2 million. Conversely, Germany registered outflows of $9.4 million.

Bitcoin and certain altcoins are demonstrating durability even as the crypto market’s sell-off persists.

In spite of the regulatory issues and worries surrounding the crypto space, the digital asset market has demonstrated remarkable fortitude, keeping its market cap above the $1 trillion mark. The tenaciousness displayed by altcoins implies that investors have spread out their crypto investments regardless of worries about regulatory enforcement on assets deemed to be security-related.

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