Digital asset funds see biggest weekly outflow since March
According to data from a CoinShares report, weekly total outflows for digital asset funds hit $600 million on June 14.
Digital asset exchange-traded products and funds saw $600 million in outflows last week, marking the most significant outflows since March 22, a June 17 report revealed.
According to the latest CoinShares “Weekly Asset Fund Flows” report, the outflows were primarily from Bitcoin (BTC) investment vehicles, which experienced $621 million in weekly outflows. Conversely, short Bitcoin funds saw $1.8 million in weekly inflows.
The report pointed to a more hawkish-than-expected outlook from the Federal Reserve, which means maintaining high interest rates, as the likely culprit behind the capital flight from fixed-supply assets like Bitcoin.
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Author: Vince Quill
