Digital asset investment products witnessed $305 million in outflows last week, with negative sentiment widespread among various providers and regions.<\/p>\n
CoinShares attributes this to stronger-than-expected economic data from the United States, which has lowered the probability of a 50-basis point interest rate reduction.<\/p>\n
The asset manager further expects that as the Federal Reserve approaches a policy change, the asset class will increasingly react to interest rate expectations.<\/p>\n
\u201cStronger macro data prompts a downturn in sentiment with $305 million outflows.\u201d<\/p>\n
In the latest edition of CoinShares\u2019 Digital Asset Fund Flows Weekly Report<\/a>, the platform revealed that Bitcoin was the main focus of the negative sentiment, resulting in $319 million in outflows over the past week. On the other hand, short Bitcoin investment products saw inflows of $4.4 million for the second week in a row, marking the highest inflow since March.<\/p>\n Ethereum (ETH) also saw weekly outflows of $5.7 million, while trading volumes stagnated at only 15% of the figures recorded during the US ETF launch week. This reflected levels comparable to those before the launches. Meanwhile, Solana (SOL) attracted $7.6 million in inflows.<\/p>\n Next up was Binance Coin (BNB) with $0.8 million, followed by Litecoin (LTC) and Cardano (ADA) with $0.3 million in inflows each.<\/p>\n Regionally, the US continued to dominate the outflows with $318 million for the week, while Germany and Sweden witnessed smaller outflows of $7.3 million and $4.3 million, respectively.<\/p>\n Canada saw the highest weekly inflows with $13.2 million, followed by Switzerland with $5.5 million and Brazil with $2.8 million during the same period. Meanwhile, Hong Kong and Australia saw smaller inflows of $1.6 million and $1.2 million, respectively.<\/p>\n The post Bitcoin Leads $305M Digital Asset Outflows, CoinShares Blames US Economic Data<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Digital asset investment products witnessed $305 million in outflows last week, with negative sentiment widespread among various providers and regions. CoinShares attributes this to stronger-than-expected economic data from the United States, which has lowered the probability of a 50-basis point interest rate reduction. The asset manager further expects that as the Federal Reserve approaches a […]<\/p>\n","protected":false},"author":0,"featured_media":2834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2833"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2833"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2834"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}