Ethereum

2024

Aptos

Bitcoin

Digital asset investment products saw $600 million in outflows last week, marking the largest outflows since March 22, 2024 withdrawal came in response to a Federal Open Market Committee (FOMC) meeting, prompting investors to reduce their exposure to fixed supply assets. 
Bitcoin products bore the brunt of the negative sentiment, experiencing $621 million in outflows dropping its price to 5.64% over the week, trading at $65,706. Despite this setback, Bitcoin has still rallied approximately 55% year-to-date. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="576" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows-1024x576.jpg" alt="Crypto Asset Weekly Flows" class="wp-image-184767" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows-1024x576.jpg 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows-800x450.jpg 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows-768x432.jpg 768w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows-860x484.jpg 860w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Weekly-crypto-Flows.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Grayscale’s Bitcoin exchange-traded fund (ETF) <a href="https://etp.coinshares.com/de/knowledge/market-activity/fund-flows-17-06-24" target="_blank" rel="noreferrer noopener nofollow">emerged</a> as the biggest loser, with outflows exceeding $274 million. Funds managed by Fidelity and ARK followed suit, each seeing nearly $150 million in withdrawals. 
While Bitcoin struggled, some altcoins managed to attract modest inflows. Ethereum led the pack with $13 million in inflows, inspired by the recent decision from the U.S. Securities and Exchange Commission to allow Ether ETFs. LIDO and XRP also saw positive flows, receiving $2 million and $1 million respectively. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="576" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets-1024x576.jpg" alt="Crypto Asset Flows" class="wp-image-184770" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets-1024x576.jpg 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets-800x450.jpg 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets-768x432.jpg 768w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets-860x484.jpg 860w, https://www.cryptotimes.io/wp-content/uploads/2024/06/Flows-by-assets.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Despite these inflows, Ethereum’s price has not escaped unscathed. The second-largest cryptocurrency by market capitalization has fallen around 8% since last week, currently trading at approximately $3,500. 
The United States accounted for the lion’s share of outflows, totaling $565 million. Canada, Switzerland, and Sweden also experienced negative flows. Germany, however, bucked the trend with $17 million in inflows. 
Trading volumes remained subdued at $11 billion for the week, compared to the $22 billion weekly average this year. However, this figure still represents a significant increase from the $2 billion weekly average observed last year. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/14/us-spot-bitcoin-etfs-witness-226m-net-outflow-on-june-13/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/06/14/us-spot-bitcoin-etfs-witness-226m-net-outflow-on-june-13/" rel="noreferrer noopener">US Spot Bitcoin ETFs Witness $226M Net Outflow on June 13</a> 
</blockquote>

Digital Asset See $600M Outflow After Fed Meeting

The Crypto Times

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