Fed policy led to $620 million outflow from Bitcoin

CoinShares' latest report reported that digital asset investment products lost $600 million.

However, the bad news did not stop there. US spot Bitcoin ETFs made up the majority of all outflows, which were $308,170,000, $149,700,000 and $146,300,000 for Grayscale's GBTC, Ark Invest's ARKB and Fidelity's FBTC, respectively.

Conversely, the only spot BTC ETF to show net inflows was BlackRock's IBIT, which pulled in about $41.6 million. In addition, the total volume of net inflows since the beginning of the existence of spot Bitcoin ETFs fell to $15.1 billion.

Recent trends and market reactions

Net inflows of spot Bitcoin ETFs have been steady for more than two weeks. After inflows of more than $18 billion in the first 4 days of the year, the following Monday saw a net outflow of $64.9 million for the first time.

Анализаторът Джеймс Бътърфил наскоро was studying similar patterns and mentioned that during the week of the ebbs, assets under management fell by more than $100 billion. Trading activity for the week was $11 billion, down 50% from the usual $22 billion per week this year. In any case, the number is still much higher than last year's weekly aggregate of $2 billion.

Regional movements

The US was the leader in net outflows with $565 million. Figures for Canada, Switzerland and Sweden also turned negative as outflows were $15 million, $24 million and $15 million respectively. Germany, meanwhile, saw successful inflows of $17 million, being one of the few countries to buck the outflow.