Crypto Funds see $223M outflows, FOMC Meeting ends 15-week streak
Cryptocurrency investment products ended last week in the green, interrupting 15 weeks of consecutive inflows after investor sentiment took a hit from hawkish remarks during last week’s Federal Open Market Committee (FOMC) meeting.
Global crypto exchange-traded products (ETPs) saw $223 million worth of outflows last week, according to the latest report from crypto asset management firm CoinShares, published Monday.
Despite a strong start to the week with $883 million worth of inflows, the “trend reversed” in the second half of the week, “likely triggered by the hawkish FOMC meeting and a series of better-than-expected economic data from the US,” the report stated, adding:
“Given we have seen US$12.2bn net inflows over the last…
