Digital Asset Products See $1.17 Billion Net Outflows, CoinShares Reports
CoinShares notes the largest weekly withdrawals since February, driven by Federal Reserve policy uncertainty and large-scale selling by major investors.
BTC
ETH
Summary
Digital asset investment products experienced over $2 billion in outflows last week, according to CoinShares’ James Butterfill, marking the largest withdrawal since February. The sell-off was attributed to uncertainty surrounding Federal Reserve policy decisions and significant selling activity by large crypto holders, or whales. Bitcoin and Ethereum products recorded the most substantial losses, contributing to a sharp decline in total assets under management across major crypto asset managers.
Terms & Concepts
- Outflows: The total capital withdrawn from an investment product over a specific period, indicating declining investor interest or shifts in market sentiment.
- Whales: Individuals or entities holding large amounts of cryptocurrency, whose market actions can significantly influence prices due to their substantial holdings.