Digital Asset Outflows: $223 Million Exit After 16 Weeks of Inflows

Digital asset investment products experienced a significant reversal last week, with a net outflow of $223 million, according to CoinShares. This ends a 16-week streak of consistent inflows into the sector. Bitcoin Sees Largest Outflow Bitcoin investment products bore the brunt of the outflow, witnessing a net exit of $404 million. Despite this single-week dip, year-to-date inflows for Bitcoin remain robust at over $20 billion. Ethereum Bucks the Trend Ethereum, however, defied the overall trend, attracting a net inflow of $133.9 million. This suggests continued bullish sentiment towards the second-largest cryptocurrency. Interest Rate Concerns Trigger Outflows CoinShares attributes the reversal to "hawkish comments at last week's FOMC and better-than-expected US economic data," which have dampened expectations for imminent interest rate cuts. The shift in macroeconomic outlook appears to have triggered risk aversion among investors, leading to the outflows from digital assets. ```