Digital asset funds see $726 million outflows, driven by US rate cut uncertainty.
Bitcoin leads outflows with $643 million, while Solana records $6.2 million inflows.
US outflows dominate, while Europe shows resilience with inflows from Germany and Switzerland.
Digital asset investment products experienced a significant exodus last week, with a massive $726 million being withdrawn. This outflow, among the largest this year, was fueled by anticipation surrounding potential interest rate cuts by the US Federal Reserve.
Most of the outflows were concentrated in the United States, contributing $721 million of the total. This marks the second time in 2024 that digital asset fund flows have reached this level, matching the largest outflow earlier in March.
Bitcoin Bears the Brunt, Solana Shines
Bitcoin bore the brunt of the outflows, losing $643 million from investment products. This decline coincides with increasing uncertainty around US economic policy, as stronger-than-expected macroeconomic data hinted at a possible 25 basis point rate cut by the Federal Reserve. Short Bitcoin, however, saw a minor inflow of $3.9 million, indicating mixed sentiment among …
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