Yo, bro! So check this out—crypto investment products just pulled a major Houdini move, and a whopping $147 million just dipped out last week. This comes right after they were riding high for three weeks straight, raking in almost $2 billion. Total rollercoaster vibes!
According to the crypto wizards at CoinShares, these digital asset products were cruising along real nice with the inflows but then, out of nowhere, hit the brakes. The latest scoop from their Digital Asset Fund Flows Weekly Report shows that from Sept. 29 to Oct. 5, those investment products totally bailed with $147 million flowing out.
Let’s break it down: in the week before that, they had a rad $1.2 billion coming in. Like, party on for a whole three weeks! But it looks like some economic data threw a wrench in the party plans, suggesting that major rate cuts aren’t popping off anytime soon. Bummer, right?
Oh, and the trading volumes? They were up just a bit—like 15%. But compared to the wider crypto world, it was kinda “meh,” according to CoinShares’ dude, James Butterfill.
Now, if we’re talking specifics, Bitcoin products were the main dudes last week, but they got hit hard with $159 million ditching the scene. On the flip side, multi-coin products managed to snag a cool $29 million, marking their 16th straight week of inflows—talk about loyalty!
And yo, while the U.S. was the party pooper, racking up $209 million in sell-offs, Canada and Switzerland were totally vibing with crypto success! They picked up a combined $78 million in inflows last week. Switzerland is bringing the heat with $538 million in inflows so far this year, making them the crypto champs after the U.S.
So, there you have it, bros! Crypto’s a wild ride, but it looks like some nations are still riding the wave while others are just trying to keep their heads above water. Stay tuned for more ups and downs in this epic saga!
Source: https://cointelegraph.com/news/crypto-products-147-million-outflow-weaker-rate-cut-probability
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