Bitcoin Cash

Polygon

James

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Crypto investment products recorded $584 million in outflows last week.</li> 
 <li>Bitcoin outflows reached $630 million.</li> 
</ul> 
<p>According to CoinShares analyst James Butterfill, crypto investment products saw the second consecutive week of outflows totaling $584 million.</p> 
<p>The report reveals that this could be the reaction to the pessimism amongst investors for interest rate cuts this year.</p> 
<p><a href="https://blog.coinshares.com/volume-188-digital-asset-fund-flows-weekly-report-2582269d7257" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://miro.medium.com/v2/resize:fit:875/1*xEAaXo7_Nkd9gtJAk2h4Bw.png" alt="" width="875" height="880" title="Crypto Investment Products Record $584M In Outflows Amidst Interest Rate Cuts Pessimism 11"></a></p> 
<h2 id="in-depth-details-on-crypto-funds-flows">In-depth details on crypto funds flows</h2> 
<p>Crypto investments recorded the second week of outflows, totaling $584 million. Last week also saw the lowest volumes traded on ETFs globally since the US ETFs were launched in the US at the beginning of 2024.</p> 
<p>Regionally, the US saw the largest outflows of $475 million, followed by Canada which recorded $109 million. Germany and Hong Kong saw $24 million and $19 million in outflows respectively.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45492 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june.png" alt="coinshares 3 24 june" width="851" height="507" title="Crypto Investment Products Record $584M In Outflows Amidst Interest Rate Cuts Pessimism 12" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june.png 851w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june-300x179.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june-768x458.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-3-24-june-750x447.png 750w" sizes="(max-width: 851px) 100vw, 851px"></a></p> 
<p>Fidelity’s ETFs saw outflows of $271 million, and Grayscale recorded $150 million in outflows. Ark Invest and 21Shares saw $79 million in outflows.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45493 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june.png" alt="coinshares1 24 june" width="856" height="540" title="Crypto Investment Products Record $584M In Outflows Amidst Interest Rate Cuts Pessimism 13" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june.png 856w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june-300x189.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june-768x484.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares1-24-june-750x473.png 750w" sizes="(max-width: 856px) 100vw, 856px"></a></p> 
<p>Bitcoin was the main focus regarding outflows, seeing $630 million, but the negative sentiment has not seen investors adding to short positions, and short BTC saw $1.2 million in outflows.</p> 
<p>Ethereum was also surrounded by a negative sentiment seeing $58 million in outflows. Altcoins saw inflows following the recent price weakness, and Solana, Litecoin, and Polygon recorded $2.7 million, $1.3 million, and $1 million respectively.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june.png"><img loading="lazy" decoding="async" class="alignnone wp-image-45494 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june.png" alt="coinshares 2 24 june" width="844" height="650" title="Crypto Investment Products Record $584M In Outflows Amidst Interest Rate Cuts Pessimism 14" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june.png 844w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june-300x231.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june-768x591.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coinshares-2-24-june-750x578.png 750w" sizes="(max-width: 844px) 100vw, 844px"></a></p> 
<p>According to the same <a href="https://blog.coinshares.com/volume-188-digital-asset-fund-flows-weekly-report-2582269d7257" rel="nofollow noopener" target="_blank">report</a>, multi-asset products saw $98 million in inflows, a fact that suggests investors saw the weakness in the altcoin market as a buying opportunity.</p> 
<h2 id="bitcoin-trades-at-61k-following-mt-gox-announcement">Bitcoin trades at $61k, following Mt. Gox announcement</h2> 
<p>Bitcoin is currently trading at $61k, following the earlier announcement that came from Mt. Gox.</p> 
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<p>According to the latest reports, the infamous defunct Japanese crypto exchange will start refunding creditors the recovered Bitcoin and Bitcoin Cash starting in July.</p> 
<p data-sourcepos="5:1-5:86">According to court documents&nbsp;and creditor reports, Mt. Gox will distribute the following:</p> 
<ul> 
 <li data-sourcepos="7:1-7:5">142,000 BTC currently valued at approximately $8.66 billion</li> 
 <li>143,000 BCH totaling about $50.3 million</li> 
</ul> 
<p>Following the <a href="https://crypto.ro/en/news/bitcoin-miner-capitulation-is-expedited-by-mt-goxs-9-32b-refund-announcement/">exchange’s announcement</a>, Bitcoin’s price dropped today from over $62,000 to the current level of around $61,000.</p>

Crypto Investment Products Record $584M In Outflows Amidst Interest Rate Cuts Pessimism

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