Reserve

Bitcoin

Spot

James

<ul> 
 <li><strong>The entire outflow from crypto asset investment products was $6.5 million.</strong></li> 
 <li><strong>Investors prepare for a big policy decision from the Federal Reserve on July 26.</strong></li> 
</ul> 
<p>According to a report by <a href="https://coinshares.com/" target="_blank" rel="noopener noreferrer nofollow">CoinShares</a>, crypto asset investment products saw outflows for the first time in five weeks, after four weeks of inflows from institutions totaling $742 million. The entire outflow from crypto asset investment products was $6.5 million. As investors sell off their <a href="https://thenewscrypto.com/bitcoin-price-analysis-btc-struggles-to-break-30000-mark/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> holdings, they wonder whether the institutional purchasing has ended.</p> 
<div align="center"> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f50e.png" alt="🔎" class="wp-smiley" style="height: 1em; max-height: 1em;"> Let’s have a look at last week’s fund flows with CoinShare’s Head of Research James Butterfill.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b05.png" alt="⬅" class="wp-smiley" style="height: 1em; max-height: 1em;"> Digital asset investment products saw minor outflows totalling US$6.5m, following 4 prior weeks of inflows that totalled US$742m.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">1/5 <a href="https://t.co/I32OtNbGV5" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/I32OtNbGV5</a></p>— CoinShares (@CoinSharesCo) <a href="https://twitter.com/CoinSharesCo/status/1683468112530665474?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 24, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
</div> 
<p>The previous four weeks witnessed a cumulative influx of $742 million into cryptocurrency asset funds. Even though flows had been negative for nine weeks prior to the inflows, the year-to-date total is now positive. Bitcoin saw massive inflows as <a href="https://thenewscrypto.com/crypto-news-sec-accepts-blackrocks-bitcoin-etf-application/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>, Fidelity Investments, and other financial heavyweights filed for spot Bitcoin ETFs.</p> 
<h3 class="wp-block-heading" id="h-all-eyes-on-policy-update">All Eyes on Policy Update</h3> 
<p>However, last week’s $6.5 million in crypto asset withdrawals sparked fears of a market downturn. Investors dumped $13 million worth of Bitcoin and bought $6.6 million worth of Ethereum. In addition, $5.5 million has flowed out of short Bitcoin investment products. The outflows have been for the thirteenth week in a row. Moreover, following Ethereum’s lead, XRP saw the most influx thanks to <a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s</a> partial victory over the US SEC.</p> 
<p>The cryptocurrency market as a whole saw a selloff that resulted in the loss of over $90 million in an hour and $150 million in the preceding 24 hours. As investors prepare for a big policy decision from the Federal Reserve the price of bitcoin dropped precipitously to start the week. On Wednesday, after a two-day meeting, the Federal Reserve will announce its decision, and investors will be waiting to see what happens next.</p> 
<p><strong>Highlighted Crypto News Today:</strong></p> 
<p><a href="https://thenewscrypto.com/binance-to-remove-set-of-spot-trading-pairs/" target="_blank" rel="noopener noreferrer nofollow">Binance to Remove Set of Spot Trading Pairs</a></p>

Crypto Asset Funds Experience Outflows Ahead of Fed Meeting

Table of Contents

TheNewsCrypto

Other articles published on Jul 24, 2023

AbbVie (ABBV) Stock Price Soaring Ahead its Q2 2023 Report

FED’s Interest Rate Resolution: This Week’s Most Critical Macro Event

Elon Musk Teases DOGE on Rebranded Twitter, Sparks Soaring Price Action

Court Date Confirmed in Cryptocurrency Case! Agreement Reached on Dates with SEC!

Ethereum (ETH) Founder Buterin Unveils “Four Major Risk Factors” of Worldcoin!

XRP Price Rally: Analyst Anticipates Imminent Breakout by July 27

Join our free newsletter for daily crypto updates!