Crypto Funds Bleed $360 Million After Powell Speech — Except Solana

Digital asset investment products experienced total net outflows of $360 million last week, primarily triggered by Federal Reserve Chair Jerome Powell's hawkish remarks suggesting hesitation on immediate interest rate cuts, which rattled markets.

Bitcoin ETFs were hit hardest, losing $946 million, as US investors led the exodus, withdrawing $439 million from crypto products overall. Conversely, Solana bucked the trend, attracting a record $421 million in inflows, largely driven by the successful launch of new US Solana ETFs like Bitwise's BSOL, which saw $200 million in net inflows over four days.

This divergence suggests institutional investors view Solana, with its speed, low fees, and staking potential offered through new ETFs like Grayscale's GSOL, as an attractive, differentiated asset, contrasting with the outflows seen by Bitcoin and Ethereum Spot ETFs.

(Source：BeInCrypto)