Interest Rate Jitters Fuel Fund Outflows
Last week, crypto investment funds saw a massive $206 million exodus, as investors grew anxious about the Federal Reserve’s potential interest rate hikes.
Bitcoin ETFs and Market Volume Take a Dive
- Bitcoin ETFs in the US experienced a whopping $204.3 million in outflows.
- Global exchange-traded products saw a drop in trading volume, with Bitcoin accounting for only 28% of the total.
Regional Fund Flows and Market Trends
- US crypto futures products contributed to the $244 million net outflows.
- Canada and Switzerland saw inflows of $30 million and $8 million, respectively.
- Global Bitcoin funds lost $192 million.
- Short-Bitcoin products had minimal outflows, suggesting limited shorting opportunities.
- Ethereum-based funds continued their outflow streak for the sixth week.
Blockchain Equities and Bitcoin Halving
- Blockchain equities faced an eleventh week of outflows, totaling $9 million.
- Investors are concerned about the impact of Bitcoin’s halving on mining companies.
Market Update
Despite the outflows, the overall crypto market has shown a slight uptick. Bitcoin and Ethereum have both seen modest gains, coinciding with Bitcoin’s fourth halving.
