#ChristmasMarketAnalysis

Crypto funds saw $1 billion in outflows at the end of last week, including $576 million in a single day, amid market jitters following a hawkish Fed stance.

Digital asset investment products recorded $308 million in inflows last week, but the week ended with $1 billion in outflows over the final two days, including $576 million on Dec. 19 alone, according to data collected .

In a Monday blog post, the Jersey-headquartered firm said the sharp outflows came after market reactions to the Federal Reserve’s hawkish stance. Total assets under management for digital asset exchange-traded products fell by $17.7 billion, representing a 0.37% decline in assets under management, marking the 13th largest single-day outflow on record, said CoinShares head of research James Butterfill.