FOMC

Bitcoin

James

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Crypto investment products recorded $600 million in outflows last week, the largest amount since March 22.</li> 
 <li>The outflows were entirely focused on Bitcoin.</li> 
</ul> 
CoinShares’ analyst James Butterfill noted in today’s report that crypto investment products recorded outflows of $600 million during the past week. This marked the largest amount of outflows since March 22. 
According to the report, this was likely triggered by a “more hawkish-than-expected FOMC meeting,” prompting investors to scale back their exposure to fixed-supply assets. 
<a href="https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45020 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie.png" alt="17 iunie" width="1032" height="705" title="Crypto Investment Products See $600M In Outflows 23" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie.png 1032w, https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie-300x205.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie-1024x700.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie-768x525.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/17-iunie-750x512.png 750w" sizes="(max-width: 1032px) 100vw, 1032px"></a> 
According to the report, the outflows were entirely focused on Bitcoin which saw $621 million in outflows. The bearishness also prompted $1.8 million inflows into short<a href="https://crypto.ro/en/cryptocurrencies/bitcoin/"> Bitcoin</a>. 
Also, a broad selection of altcoins saw inflows led by Ethereum, LIDO and XRP. 
<h2 id="in-depth-details-on-crypto-funds-flows">In-depth details on crypto funds flows</h2> 
Crypto investment products’ outflows are the biggest ones since March 22. This reportedly occurred under similar circumstances which involved a period of significant inflows followed by a FOMC meeting which led investors to scale back their exposure to fixed-supply assets. 
The outflows and recent price sell-off saw the total assets under management fall from over $100 billion to $94 billion over the previous week. 
Trading volumes are lower at $11 billion for the week compared to $22 billion weekly average this year. Crypto ETPs maintain a steady 31% of global trading volumes on trusted exchanges. 
Grayscale saw $273 million in outflows, Ark saw $150 million in outflows, and Fidelity saw $146 million in outflows. 
<a href="https://crypto.ro/en/wp-content/uploads/2024/06/17i.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45022 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/17i.png" alt="17i" width="855" height="525" title="Crypto Investment Products See $600M In Outflows 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/17i.png 855w, https://crypto.ro/en/wp-content/uploads/2024/06/17i-300x184.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/17i-768x472.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/17i-750x461.png 750w" sizes="(max-width: 855px) 100vw, 855px"></a> 
Regionally, the US saw most of the outflows totaling $565 million and the negative sentiment was also present in Canada, Switzerland, and Sweden. 
The countries saw outflows of $15 million, $24 million, and $15 million respectively. Germany saw inflows of $17.4 million. 
<a href="https://crypto.ro/en/wp-content/uploads/2024/06/173i.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45024 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/173i.png" alt="173i" width="855" height="501" title="Crypto Investment Products See $600M In Outflows 25" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/173i.png 855w, https://crypto.ro/en/wp-content/uploads/2024/06/173i-300x176.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/173i-768x450.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/173i-750x439.png 750w" sizes="(max-width: 855px) 100vw, 855px"></a> 
According to the same <a href="https://blog.coinshares.com/volume-187-digital-asset-fund-flows-weekly-report-03a835f3e795" rel="nofollow noopener" target="_blank">report</a>, the outflows were entirely focused on Bitcoin, which saw $621 million in outflows. Short Bitcoin saw $1.8 million in inflows. 
Ethereum, LIDO, and XRP received $13 million, $2 million, and $1 million respectively. 
<a href="https://crypto.ro/en/wp-content/uploads/2024/06/172i.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45023 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/172i.png" alt="172i" width="851" height="635" title="Crypto Investment Products See $600M In Outflows 26" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/172i.png 851w, https://crypto.ro/en/wp-content/uploads/2024/06/172i-300x224.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/172i-768x573.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/172i-750x560.png 750w" sizes="(max-width: 851px) 100vw, 851px"></a> 
However, the other day, we reported according to HODL15Capital, despite the net negative week, June’s Bitcoin ETFs are still <a href="https://crypto.ro/en/news/junes-bitcoin-etf-holdings-are-positive-by-1-13b-worth-of-btc-despite-a-net-negative-week/">positive </a>by 17,134 BTC worth over $1.12 billion.

Crypto Investment Products See $600M In Outflows

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