According to Coinshares data, digital asset investment products experienced outflows of $88 million last week, marking the eighth consecutive week of money leaving crypto funds. The total outflows over the past eight weeks now amount to $417 million, which coincides with a significant drop in cryptocurrency prices following a strong start to the year. Bitcoin and Ethereum saw the largest outflows, with Bitcoin experiencing outflows of $52 million last week and Ethereum experiencing the largest single week of outflows since last year.

CoinShares suggests that the outflows may be due to monetary policy concerns and regulatory issues, such as the recent SEC lawsuits against Coinbase and Binance. This week, however, regulatory policy may take a back seat as investors await key macro data points, including the U.S. inflation report and the latest U.S. Federal Reserve policy meeting.