This year's funds into cryptocurrency investment products have evaporated... A total of $7.3 billion has been lost

Almost all of the funds that flowed into cryptocurrency exchange-traded products (ETPs) this year have flowed out, effectively wiping out the gains made at the start of the year. Last week alone, about $795 million (about 11
3.7 billion yen), marking the third consecutive week of net outflows. CoinShares said in a report that "7 billion yen was withdrawn from Bitcoin (BTC)-based products."
"A total of $37.6 million was withdrawn from Ethereum (ETH)-based products, accounting for the majority of the total outflows," the report said.
Meanwhile, some altcoins have strayed from the trend and recorded small inflows.
Examples of this include Ondo Finance, Algorand, and Avalanche.
CoinShares analyzed that the main cause of the massive outflow was the negative investment sentiment that began in February.
As a result, cumulative outflows since February have reached $7.2 billion, offsetting most of the inflows into cryptocurrency ETPs so far this year.
The latest money outflow was made by US President Donald Trump.
The recent tariff policy of President Trump appears to have had a major impact. On April 2, President Trump announced that he would suspend imports of US goods from all countries.
He signed a presidential decree imposing a basic 10% tariff on imports from the United States and teased retaliatory tariffs against countries that impose tariffs on U.S. products. Since then, the administration's back-and-forth tariff policy has been subject to market uncertainty.
James Butterfill, head of research at CoinShares, said:
Butterfill said, "The wave of negative sentiment that began in February is expected to reach a total of $7.2 billion.
This has led to record outflows,” he said. As of now, the amount of funds that have flowed into cryptocurrency ETPs this year is just $165 million.