In its most recent report on digital asset fund flows, CoinShares revealed that crypto products suffered losses of $600 million last week.
The outflows were attributed to institutional investors reacting to a more hawkish tone from the Federal Open Market Committee (FOMC) during their meeting.
“Digital asset investment products experienced outflows totaling US$600 million, the largest since March 22, 2024. This occurred under similar circumstances: a period of significant inflows followed by a more hawkish-than-expected FOMC meeting, prompting investors to scale back their exposure to fixed-supply assets.”
CoinShares pointed to the FOMC’s dot plot as the main reason for the crypto losses, with most committee members not expecting interest rates to decrease until next year.
Outflows in the US totaled $565 million, while Canada, Switzerland, and Sweden saw outflows of $15 million, $24 million, and $15 million respectively. Germany, on the other hand, had inflows of $17 million.
Bitcoin (BTC) experienced the largest outflows at $621 million, while Solana (SOL) lost $0.2 million. Ethereum (ETH), Chainlink (LINK), and Litecoin (LTC) saw inflows of $13.1 million, $0.8 million, and $0.8 million respectively.
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