according to the latest weekly data from CoinShares, global crypto asset exchange-traded products (ETPs) have recorded net outflows for the fourth consecutive week, with $173 million withdrawn last week and a total of $3.74 billion withdrawn over the past four weeks. Among them, U.S.-listed products saw a weekly outflow of $403 million, while Europe and Canada combined recorded a net inflow of $230 million, showing a clear regional divergence. Germany ($115 million), Canada ($46.3 million), and Switzerland ($36.8 million) led the inflows. By asset category, Bitcoin-related products saw an outflow of $133 million; Ethereum products outflowed $85.1 million; short Bitcoin products experienced an outflow of $15.4 million over the past two weeks. Some altcoins bucked the trend by attracting funds, with XRP inflows of $33.4 million, Solana inflows of $31 million, and Chainlink inflows of $1.1 million. CoinShares Head of Research James Butterfill stated that although the selling pressure has significantly eased compared to the $1.7 billion weekly outflow at the beginning of the month, market sentiment has yet to reverse. Meanwhile, ETP trading volume fell from a record $63 billion the previous week to $27 billion, indicating a noticeable cooling in speculative activity.