Digital Asset Investment Products Experience Significant Outflows

According to PANews, recent data from CoinShares reveals that digital asset investment products have experienced a significant outflow of funds, totaling $415 million. This marks the first major outflow after a record 19 consecutive weeks of inflows. The primary reasons for this shift are the hawkish remarks by U.S. Federal Reserve Chair Jerome Powell and higher-than-expected U.S. CPI data, which have raised market expectations for interest rates. Bitcoin was the most affected, with outflows reaching $430 million. The majority of the outflows originated from the United States, amounting to $464 million, while markets in other countries remained relatively stable. In contrast, Germany, Switzerland, and Canada recorded inflows of $21 million, $12.5 million, and $10.2 million, respectively. Solana emerged as the asset with the highest inflow, attracting $8.9 million, followed by XRP with $8.5 million and Sui with $6 million. Additionally, blockchain stocks drew $20.8 million in inflows, contributing to a total of $220 million in inflows since the beginning of the year.