Bitcoin

James

<ul class="wp-block-list">
 <li>Global crypto investment products experienced $147 million outflows last week.</li>
 <li>Trading volumes increased 15% despite reduced investor sentiment</li>
</ul>
Global investment products focused on crypto, managed by firms such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, have witnessed a significant reversal after a remarkable three-week net inflow period, with $147 million exiting these funds last week. This development marks a sharp decline from nearly $2 billion in inflows over the preceding weeks, as reported by CoinShares.
James Butterfill, Head of Research at <a href="https://blog.coinshares.com/volume-203-digital-asset-fund-flows-weekly-report-a6be2c3600de" target="_blank" rel="noopener noreferrer nofollow">CoinShares</a>, attributed the weaker sentiment among investors to “higher than expected economic data” released last week, which reduced expectations for substantial interest rate cuts. This shift in <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">market</a> conditions appears to have prompted a cautious approach among investors.
Meanwhile, notably, <a href="https://thenewscrypto.com/bitcoin-surges-2-5-as-crypto-market-reacts-to-fed-meeting-expectations/" rel="noopener noreferrer nofollow">bitcoin</a>-based funds led the outflows with $159 million, while short-bitcoin investment products saw a modest net inflow of $2.8 million. The negative flows were predominantly felt in the U.S., Germany, and Hong Kong, with losses amounting to $209 million, $8.3 million, and $7.3 million, respectively. However, Canadian and Swiss products provided some offset, recording net inflows of $43 million and $34.9 million.
<h3 class="wp-block-heading" id="h-trading-volumes-for-global-crypto-investment-products-increased">Trading Volumes for Global Crypto Investment Products Increased</h3>
Despite these outflows, trading volumes for global crypto investment products increased by 15% to $10 billion over the week, according to Butterfill, highlighting a robust trading environment amid softer market activity. Bitcoin is currently trading at $63,595, reflecting a 2.6% gain over the past 24 hours. The leading cryptocurrency remains up 46.6% year-to-date, despite experiencing an 8.5% dip earlier last week.
<a href="https://thenewscrypto.com/ethereums-rally-pushes-it-to-a-four-day-high/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>-based products also faced challenges, with net outflows of $28.9 million due to “lackluster” investor interest. In contrast, multi-asset investment products continued to attract interest, adding $29.4 million and marking the 16th consecutive week of positive flows, representing a growing preference for diversified investment strategies among investors.
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Global Crypto Investment Products Experience $147M Outflow

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