CoinShares report: The Fed's hawkish comments and CPI data triggered a weekly outflow of $415 million in spot ETFs
According to the latest weekly data from CoinShares, after the US election, US spot ETFs experienced significant outflows for the first time after a record 19 consecutive weeks of inflows, totaling US$415 million. The main reason for the report analysis is that the hawkish remarks of Federal Reserve Chairman Powell and the US CPI inflation data exceeded expectations, leading to higher market expectations for interest rates.
Analysis shows that the largest outflow of funds came from the United States, reaching US$464 million; while there was no significant outflow of funds in the cryptocurrency derivatives markets of other countries. In contrast, Germany, Switzerland and Canada saw inflows of $21 million, $12.5 million and $10.2 million respectively last week.
Among them, Bitcoin is extremely sensitive to market interest rate expectations. The amount of capital outflow reached 430 million US dollars last week alone, and it has also become the main target of investors' withdrawal. It is worth noting that Bitcoin short products did not attract corresponding capital inflows, but instead saw outflows of US$9.6 million.
Among all assets, Solana had the largest inflows last week, totaling $8.9 million, followed by XRP and Sui, with inflows of $8.5 million and $6 million, respectively. Blockchain stocks also saw inflows of $20.8 million, bringing year-to-date inflows to $220 million.
In summary, the spot ETF market experienced significant outflows following the Fed’s hawkish comments and the CPI data that exceeded expectations. Bitcoin, as an asset that is extremely sensitive to interest rate changes, has been the first to be affected.
However, despite short-term market volatility, long-term trends still need further observation. Investors need to be more cautious and pay close attention to market dynamics and macroeconomic indicators.
💬What do you think about the capital outflow phenomenon in the US spot ETF market? Are you inclined to be optimistic or cautious about future market trends? See the comments section!
