Institutions showed the first outflow of capital from the crypto market in six weeks - $600 million. This is evidenced by data from the#CoinSharesreport for June 8-14.
![](https://public.bnbstatic.com/image/pgc/202406/473403e38bb26ee1e069a82927fa8413.png)
We are, of course, primarily talking about spot Bitcoin ETFs. And the likely reason for the outflow, as pointed out by CoinShares, is “a more aggressive than expected meeting on the Fed’s key rate.” Although, subjectively, there was no aggression there. It’s just not enough for the market to hear the same thing all year long.
The weak link among issuers in purchases this time was not only #Grayscale, but in general everyone except #BlackRock. Such traditionally active buyers as#Fidelityand#ArkInvestalso closed the week with a net outflow. Moreover, Ark Invest is in second place in sales after Grayscale. A large amount.
![](https://public.bnbstatic.com/image/pgc/202406/b8bc149e469d02f9d92e3fba58132dd0.png)
Details on inflows/outflows for assets as a whole:
- Crypto products focused on#BTCshowed an outflow of -$621 billion (a week earlier there was an inflow of +$1.973 billion).
- Crypto products focused on short#BTChad weak inflows of +$1.8 million (weeks earlier there were continuous outflows: -$5.3 million, -$3.5 million and -$4.3 million). They shorted, of course, precisely on the situation with the Fed. It will be important to see the results of shorts this week.
- For crypto products focused on #ETH, the influx continued, despite the pessimism of institutions on the market as a whole. Waiting for approval of Ethereum spot ETFs is doing its job: +$13.1 million. Weeks earlier it was +$68.9 million, +$33.5 million and +$36 million. Yes, the influx has dropped. But it didn't stop.
The trend of last week continued - all other altcoins show weakness in institutional inflows.#ETHcontinues to “cannibalize” liquidity. Draws all attention to itself (as it should be at the start of altezone 👀).
Figures for institutional capital flows into altcoins:
-#XRP- only +1.1 million $,
-#LTC- only +0.8 million $,
-#LINK- total +0.8 million $,
-#ADA- only +0.7 million $,
-#BNB- only +0.3 million $ (here, given the fact that the coin appeared on the list only last week, interest even increased slightly).
-#SOL- even outflow, -0.2 million $.
![](https://public.bnbstatic.com/image/pgc/202406/1cd5ed55df1e367c2640f5807174add2.png)
Geographically, the leader in outflows is, of course, the United States, by a wide margin. Next comes Switzerland, Sweden, Canada. Hong Kong has very little outflow. Tributaries are from Germany, Australia, Brazil. But very small.
![](https://public.bnbstatic.com/image/pgc/202406/aecbde7192999c2611693386de688d83.png)