Digital Asset Exchange-Traded Products Experience Largest Outflow Since March 22, Bitcoin Hit Hardest

• $600 million outflows from digital asset ETPs and funds last week.
• Bitcoin investment vehicles saw $621 million in outflows.
• Altcoins like Ether and XRP saw inflows despite overall outflows.
• Total digital assets under management declined from $100 billion to $94 billion.
• Experts believe institutional adoption of digital assets is still in its infancy.
• Bitcoin ETF inflows compared to JPMorgan capital flows highlight institutional adoption challenges.

Summary :
Digital asset exchange-traded products and funds experienced $600 million in outflows last week, the largest outflow since March 22, according to a report by CoinShares. The majority of the outflows were from Bitcoin investment vehicles, which saw $621 million in weekly outflows. Short Bitcoin funds, on the other hand, saw $1.8 million in weekly inflows. The report attributed the capital flight from Bitcoin to a more hawkish outlook from the Federal Reserve, which suggests higher interest rates. Altcoins, such as Ether, LIDO, XRP, BNB, Litecoin, Cardano, and Chainlink, saw small inflows but were unable to offset the overall decline in digital assets under management, which dropped from $100 billion to $94 billion during the week. Despite the launch of Bitcoin exchange-traded funds (ETFs) in the US, experts believe that institutional adoption of digital assets is still in its early stages.

Sources :

- CoinTelegraph