Crypto whales and the big fish in the pond—like BlackRock and Grayscale—just watched $147 million slip through their fingers last week. What happened to the streak? For three weeks straight, the inflows kept rolling, almost $2 billion, and then bam—outflows hit. CoinShares’ James Butterfill says the surprise? Higher-than-expected economic data killed the party, making those juicy rate cuts less likely, so the market caught some bearish vibes.
Bitcoin-based funds were the first to feel it, losing a colossal $159 million. But the short-BTC products? They weren’t fazed—raking in $2.8 million. It was a global shake-up, too. U.S. funds were the biggest losers with $209 million flowing out, Germany followed with $8.3 million, and Hong Kong trailed with $7.3 million. But wait—Canada and Switzerland refused to join the FUD fest, pulling in $43 million and $34.9 million in fresh dough.
Volumes didn’t blink, though. Crypto investment products globally saw trading volumes jump 15% to $10 billion. Even with the larger market staying meh, that’s a flex.
Ether’s Limp, But Multi-Assets Hold the Line
And Ethereum? Yeah, it wasn’t the week to HODL there either. Ethereum-based products, trying to make a comeback, saw $28.9 million ooze out as investors kept looking the other way. Butterfill pointed to that “meh” investor interest, clearly not enough to keep the ETH ship afloat.
But check this—multi-asset products are straight vibing. They pulled in $29.4 million in net inflows, marking their sweet 16th week of gains. It seems like everyone’s digging these diversified baskets, spreading their bets wide rather than risking everything on a single asset moonshot.
As for BTC itself, it’s been on a rollercoaster. From a drop to $60,000, it crawled back to $63,595, marking a 2.6% boost in the past 24 hours. Wild swings, sure, but the year-to-date gain of 46.6% is still keeping OGs grinning through the chaos.
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