Bitcoin, Ethereum Investment Products Bleed $430 Million as Inflation Concerns Flare – BitRss

Digital asset investment products notched major outflows for the first time this year, bleeding $415 million last week amid investors’ renewed focus on U.S. monetary policy.

Last week’s outflows were concentrated among Bitcoin products like spot ETFs, totaling $430 million as Federal Reserve Chairman Jerome Powell maintained the U.S. central bank “need not be in a hurry” to cut rates, according to CoinShares Head of Research James Butterfill. Those outflows were counteracted by inflows into investment products for Solana, XRP ($2.64), Sui, and other digital assets, leading to a total of $415 million leaving crypto-based funds last week.

In a report on Monday, Butterfill explained that Bitcoin is “highly sensitive to rate cut expectations,” including those stemming from Powell’s semiannual report to Congress and last week’s hotter-than-expected inflation snapshot.

Over the past week, Bitcoin’s price has dippe…