According to asset manager CoinShares, digital asset investment products saw $812 million in net outflows last week, their first sizable withdrawal since early September, though year-to-date inflows remain robust at $39.6 billion.
The pullback came as stronger-than-expected U.S. GDP and durable goods data tempered expectations for two Federal Reserve rate cuts this year, weighing on risk assets broadly.
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Regionally, the U.S. accounted for the bulk of outflows at $1 billion, while other markets saw inflows: Switzerland added $126.8 million, Canada $58.6 million, and Germany $35.5 million, suggesting the sell-off was largely confined to U.S. investors.
By product, BTC saw $719 million of outflows versus ETH’s $409 million. Notably, short-bitcoin products did not see a corresponding uptick. Solana led altcoins with $291 million of inflows ahead of the U.S. Solana ETF launches, and XRP drew $93.1 million.
Despite the weekly setback, digital asset funds have pulled in $4 billion in month-to-date inflows, positioning them to challenge last year’s record of $48.6 billion if momentum persists.
Read More: Digital assets draw $1.9 billion as Fed’s “Hawkish Cut” spurs inflows: CoinShares
