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On June 12, European cryptocurrency investment firm CoinShares published<\/a> Its latest weekly \u201cDigital Asset Fund Flows Report,\u201d revealing that cryptocurrency investment products experienced outflows of $88 million last week. The substantial drawdown added to the ongoing eight-week streak of outflows, which now total $417 million. Analysts at CoinShares have attributed this ongoing trend to monetary policy considerations, as interest rate hikes show no signs of slowing down, prompting investors to remain cautious.<\/p>\n In the past week, Ether (ETH<\/a>) products witnessed $36 million of outflows, marking the largest weekly outflows for the asset since the Ethereum Merge in September 2022<\/a>,<\/p>\n Meanwhile, Bitcoin (BTC<\/a>) investment products witnessed outflows totaling $52 million during the analyzed period. This brings the eight-week cumulative outflows for Bitcoin to $254 million, representing approximately 1.2% of the total assets under management (AUM). Additionally, short-Bitcoin products recorded outflows of $1.1 million, with seven-week outflows accounting for 44% of AUM.<\/p>\n Altcoins, on the other hand, exhibited “mixed fortunes” during this period. Minor inflows were observed for Litecoin (LTC<\/a>), XRP (XRP<\/a>) and Solana (Sol<\/a>), while Polygon (Matic<\/a>experienced outflows. \u201cInterestingly, on aggregate, altcoins have seen inflows year-to-date (except Tron), in stark contrast to Bitcoin and Ethereum,\u201d observed CoinShares’ report author James Butterfill. <\/p>\n Interestingly, 87% of the outflows were concentrated within a single provider, indicating a regional impact. Most of these outflows originated from North America, while Switzerland witnessed minor inflows of $9.2 million. On the other hand, Germany experienced outflows of $9.4 million.<\/p>\n Related: Bitcoin and select altcoins show resilience even as the crypto market sell-off continues<\/a><\/em><\/strong><\/p>\n