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Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares returned to net outflows last week, totaling $305 million, following net inflows of $543 million the week before, according to CoinShares' latest report.

The outflows came amid “widespread negative sentiment evident across various providers and regions,” CoinShares Head of Research James Butterfill said, driven by stronger-than-expected economic data in the U.S., which “diminished the likelihood of a 50-basis point interest rate cut.”