PANews reported on June 24 that according to the latest weekly report data from CoinShares, last week was the second consecutive week of capital outflows from digital asset investment products, totaling US$584 million, a total decrease of US$1.2 billion. This may be a reaction to investor pessimism over the prospect of the Federal Reserve cutting interest rates this year. Last week, global ETP trading volume also hit a record low since the U.S. ETF was launched in January, with only $6.9 billion traded in a week. In terms of geographical distribution, capital outflows from the U.S. market were the most significant, reaching US$475 million; the Canadian market also saw capital outflows of US$109 million. The German and Hong Kong markets saw outflows of US$24 million and US$19 million respectively. However, the Swiss and Brazilian markets bucked the trend, seeing inflows of $39 million and $48.5 million respectively.
Among digital assets, Bitcoin was the main focus of outflows, with an outflow of $630 million. Notably, despite the bearish sentiment, short positions in Bitcoin did not increase, but instead saw an outflow of $1.2 million. Ethereum was not immune to the sentiment, with $58 million in outflows. However, among a range of other coins, Solana, Litecoin, and Polygon were the bright spots, receiving inflows of $27 million, $13 million, and $10 million, respectively, following recent price declines. Multi-asset products saw inflows of $98 million, indicating that investors viewed weakness in the altcoin market as a buying opportunity.
