Digital Asset Funds See $812 Million Weekly Outflows Amid Rate Cut Uncertainty
CoinShares reports $812 million in outflows, driven by strong US economic data, with Bitcoin and Ethereum leading declines while Solana and XRP attract capital inflows, maintaining strong year-to-date totals of $39.6 billion.
CoinShares data shows $812 million in digital asset fund outflows last week, primarily due to reduced expectations for a Federal Reserve rate cut after stronger-than-expected US macroeconomic data. Despite this, cumulative year-to-date inflows remain at $39.6 billion, approaching last year’s record. The US accounted for $1 billion in outflows, while Switzerland, Canada, and Germany saw inflows. Bitcoin experienced $719 million in outflows, Ethereum $409 million, while Solana and XRP saw inflows of $291 million and $93.1 million, respectively.
- Net Inflows/Outflows: The total amount of capital moving into or out of investment products over a specific period, indicating investment sentiment.
- Short Bitcoin: An investment strategy that profits from a decline in Bitcoin's price, often through derivatives or inverse ETFs.
- Macroeconomic Data: Economic indicators such as GDP, employment, and inflation that influence investor sentiment and monetary policy expectations.