Crypto Funds Bleed $1.2 Billion Amid US Weakness, Except Solana and XRP
Digital asset funds experienced $1.17 billion in outflows last week, driven by US economic uncertainty, though Solana and XRP saw significant inflows.Summary
Digital asset investment products suffered $1.17 billion in outflows last week, marking the second consecutive week of sharp losses, primarily due to US economic uncertainty and lingering volatility. The US market accounted for $1.22 billion in outflows, amplified by Federal Reserve Chair Jerome Powell's hawkish comments regarding interest rates. Bitcoin and Ethereum were the hardest hit, recording outflows of $932 million and $438 million, respectively, while short Bitcoin ETPs attracted $11.8 million. Conversely, European markets, particularly Germany and Switzerland, saw positive inflows totaling about $91 million. Solana stood out with $118 million in inflows, continuing a strong trend supported by new US ETF launches, and XRP also attracted inflows, demonstrating selective strength among altcoins despite the broader market downturn driven by US policy concerns.
(Source：BeInCrypto)