TechFlow news, according to CoinShares data, digital asset investment products saw outflows for the fourth consecutive week, with total outflows reaching $251 million.
This week marked the first measurable outflow for newly launched U.S. ETFs, which saw $156 million in outflows last week. CoinShares estimates the average purchase price of these ETFs since launch at $62,200 per bitcoin, and an automatic sell-off could be triggered if prices fall more than 10% below this level.
Last week's highlight was the successful launch of spot bitcoin and ether ETFs in Hong Kong, which attracted $307 million in inflows during their first trading week.
As usual, bitcoin remained the main focus, seeing outflows of $284 million. Unusually, it was the only digital asset to experience capital outflows. Ethereum broke a seven-week streak of outflows, recording $30 million in inflows last week.
Several altcoins saw inflows, most notably Avalanche, Cardano, and Polkadot, which attracted $500,000, $400,000, and $300,000 respectively.
