Litecoin

Bitcoin

Buck

Spot

James

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin ETFs experienced a significant outflow of $544.1 million last week, indicating a possible market correction.</li>
 <li>Despite negative sentiment, altcoin investment products, such as Solana, Litecoin and Polygon, saw net inflows.</li>
</ul>
Spot Bitcoin ETFs in the U.S. saw a collective net outflow of $544.1 million last week.
This brings the total outflow to over $1.1 billion in the last two weeks.
<h2 id="global-digital-asset-investment-products">Global Digital Asset Investment Products</h2>
Around the globe, digital asset investment products experienced outflows totaling $584 million for the second week in a row.
The trading volumes of these exchange-traded products were at their lowest since the U.S. spot Bitcoin ETFs were launched in January, standing at only $6.9 billion.
According to James Butterfill, Head of Research at CoinShares, these outflows are a reaction to investors’ pessimism regarding potential interest rate cuts by the FED this year.
He further stated that these additional outflows indicate that a true market correction might be underway.
<h2 id="altcoin-investment-products-buck-the-trend">Altcoin Investment Products Buck the Trend</h2>
Despite the negative sentiment, not all crypto investment products experienced outflows.
Altcoin investment products like Solana, Litecoin and Polygon saw net inflows of $2.7 million, $1.3 million and $1 million respectively.
This suggests that investors viewed the weakness in the altcoin market as a buying opportunity.
<a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is currently trading at $61,349.
The largest cryptocurrency by market cap has seen a decrease of 4.5% over the past 24 hours.
This comes amidst confirmation from the Mt. Gox Rehabilitation Trustee that around $9 billion in bitcoin and bitcoin cash repayments will start from July.
<a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>-based investment products also saw global net outflows of $58 million.
This happened despite movement on prospective issuers’ S-1 registration filings with the Securities and Exchange Commission last week, ahead of a potential July 2 launch date.
Meanwhile, the GMCI 30, which represents a selection of the top 30 cryptocurrencies, has decreased by 4% in the last 24 hours, standing at 124.81.
CoinShares also announced on Monday that it has successfully sold its FTX claim, yielding a 116% recovery rate in fiat terms net of broker fees.
This resulted in a return of £31.3 million ($39.7 million) on a £26.6 million claim ($33.7 million).

Bitcoin ETFs Experience $544M Outflow, Signals ‘Real Correction’ According to CoinShares

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