Digital asset investment products saw outflows for the first time in 4 weeks totalling $528m in what we believe is a reaction to fears of a recession in the US, geopolitical concerns and consequent broader market liquidations across most asset classes.

Bitcoin saw outflows totalling $400m, the first following 5 weeks of inflows. Ethereum saw outflows totalling $146m, bringing the net outflows since the ETF launch in the US to $430m