Crypto fund outflows reach nearly half a billion over 9 weeks — CoinShares By Cointelegraph

Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine weeks, according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment toward cryptocurrencies.

Crypto exchange-traded products are designed to track crypto prices. When shares of these funds fall below their target prices, they sell off cryptocurrencies, causing outflows.