Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares
Summary
Bitcoin investment products experienced $621 million in outflows last week due to mixed economic signals from the U.S. The broader digital asset ecosystem saw net outflows of $600 million, largely driven by Bitcoin's losses. Grayscale's GBTC was most affected, with $273 million of outflows. These outflows counterbalanced minor inflows for various altcoins such as ETH, LIDO, and XRP. U.S. inflation data for May met expectations, but the Federal Open Market Committee's decision to maintain its benchmark rate range at 5.25%-5.50% negatively impacted Bitcoin, causing it to drop to its lowest point in four weeks at $65,100.
