According to the weekly report from CoinShares, inflows into the Newborn Nine ETFs dropped by over 50% in the past week, declining from $254 million to $126 million. This decrease in inflows contributed to the third consecutive week of outflows, totaling $435 million—the largest outflow since March—for major crypto-related investment products.

Despite the overall trend of outflows, Grayscale's GBTC saw a notable decrease in outflows, with $440 million leaving the product last week. Although this marks the lowest weekly outflow for GBTC in nine weeks and suggests a slowdown in outflows, the total outflows from GBTC year-to-date have surpassed $17 billion.

James Butterfill, CoinShares' head of research, commented on the situation, noting that while Grayscale's outflows are decelerating, there's also a slowdown in inflows from new issuers, which saw only $126 million in inflows last week compared to $254 million the previous week.

The decrease in inflows also led to a decline in trading volume, dropping from $18 billion to $11.8 billion.

In contrast, investment products related to altcoins such as Solana, XRP, Cardano, Polkadot, and Chainlink saw inflows last week, with cumulative inflows exceeding $25 million, according to the CoinShares report.

However, Ethereum continued its trend of outflows, experiencing an additional $38.4 million in outflows last week, bringing the total for the month to $123.8 million. Year-to-date, Ethereum has seen negative flows amounting to $50 million.

Interestingly, despite the bearish sentiment prevailing in the market, investors added $1.3 million to short Bitcoin investment products.