The post Bitcoin ETFs See $600 Million Exodus as Fed Takes Hawkish Turn appeared on BitcoinEthereumNews.com.

Bitcoin leads outflows, with $621M withdrawn, reflecting cautious investor sentiment after FOMC meeting. Despite daily outflows, cumulative net inflow for digital asset ETFs remains positive at $15.11B, showing long-term confidence. High trading activity with $1.76B traded and overall ETF net assets growing 4.42% to $57.27B despite recent setbacks. Digital asset investment products, particularly those focused on Bitcoin, experienced significant outflows of $600 million last week, marking the largest weekly withdrawal since March 22, 2024. Crypto reporter Colin Wu attributed this sharp decline to a more hawkish-than-expected Federal Open Market Committee (FOMC) meeting, which prompted investors to reduce their exposure to fixed-supply assets, notably Bitcoin. The outflows were concentrated entirely in Bitcoin, with $621 million withdrawn. Digital asset investment products experienced outflows totalling US$600 million last week, the largest since March 22, 2024, likely due to a more hawkish-than-expected FOMC meeting, prompting investors to scale back their exposure to fixed-supply assets. The outflows were… — Wu Blockchain (@WuBlockchain) June 17, 2024 According to sosovalue data, the daily total net inflow for digital asset ETFs reflected a notable outflow of $190.08 million. This indicates that more funds were withdrawn from these ETFs than were invested on that day. However, this daily loss indicates that the cumulative total net inflow is still positive at $15.11 billion. This suggests that there has been an overall net inflow into these ETFs, signaling long-term investment in the market. The total value traded for these ETFs was $1.76 billion, indicating a high level of trading activity. Additionally, the total net assets of these ETFs amount to $57.27 billion, reflecting a slight increase of 4.42%. This shows overall growth in the net assets of these ETFs, despite the recent outflows. Looking at the breakdown of individual ETFs, the most significant net outflow of $52 million occurred for the…

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Filed under: News - @ June 17, 2024 10:26 pm