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♦️ Bitcoin Halving Impact: $206M Outflows from Blockchain Stock
Investor concerns over Bitcoin halving impacts the 11th consecutive week of outflows from blockchain equities. With a mining reward slash to 3.125 BTC, profitability worries are rising, leading to $9 million in withdrawals from blockchain equities. This trend underscores fears of reduced revenue and financial strains for mining operations, potentially affecting stock values.
Digital asset investments faced their second week of outflows, totaling $206 million, as interest in ETPs and ETFs. CoinShares data shows that trading volumes are dropping, indicating investors are less interested because they expect the Federal Reserve to keep interest rates high for a long time. Bitcoin outflows reached $192 million, though short-selling activity remained subdued. Ethereum products also suffered outflows, marking six consecutive weeks of decline.
Multi-asset investments attracted $9 million in weekly inflows, while Litecoin and Chainlink garnered $3.2 million and $1.7 million, respectively. However, negative sentiment hit US ETFs, with outflows reaching $244 million, concentrated in required ETFs. Canada and Switzerland saw notable inflows of $30 million and $8 million, respectively, while Germany recorded minor outflows of $8 million.
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