Crypto funds at asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered outflows totaling $126 million globally last week, according to CoinShares’ latest report.

These represent the first outflows in three weeks — when a record of almost $1 billion in outflows was witnessed for the week ending March 22.

“Investors are seemingly hesitant since the positive price momentum has stalled,” CoinShares Head of Research James Butterfill wrote. “Volumes did pick up a little from $17 billion to $21 billion week-on-week, but ETP/ETF activity dropped relative to the overall market, from 40% of total volumes on trusted exchanges over the last month to 31% last week, demonstrating this caution amongst investors.”