Hawkish Fed remarks drive $360M in crypto outflows but Solana ETFs shine

Cryptocurrency investment products experienced $360 million in outflows last week, primarily driven by US investors reacting to Federal Reserve Chair Jerome Powell's cautious remarks suggesting a rate cut in December was not guaranteed. The US market accounted for most of the $439 million in outflows, with Bitcoin ETFs seeing $946 million in redemptions. In contrast, Solana assets attracted $421 million in inflows, marking its second-largest inflow on record, largely fueled by the successful debut of new US exchange-traded funds (ETFs). Bitwise’s new Solana Staking ETF (BSOL) launched with $222.8 million in seed assets, signaling strong institutional interest in staking yields. Ethereum also saw positive inflows of $57.6 million, indicating a rotation of capital despite overall bearish sentiment following the Fed's statements.

(Source：Cointelegraph)