Check out what I saw in CoinShares' data from last week: digital asset investment products had a net outflow of $187 million. It seems like a lot, but actually, this slowdown in redemptions is interesting – historically, when withdrawals start to slow down like this, it can be a sign that sentiment is turning.

What caught my attention was the contradiction in the numbers: while assets under management fell to $129.8 billion (lowest level since March), the trading volume of ETPs hit a record of $63.1 billion. Like, people are selling, but at the same time, they're trading a lot.

Regionally, Germany, Switzerland, Canada, and Brazil received positive flows of $87.1 million, $30.1 million, $21.4 million, and $16.7 million respectively. As for digital assets, Bitcoin took a hit with outflows of $264 million, while XRP, Solana, and Ethereum attracted inflows of $63.1 million, $8.2 million, and $5.3 million. Interesting that Bitcoin is alone in the pressure while the rest are receiving money.