Markets pulled $454 million from crypto exchange-traded products last week as investors stepped back amid rising bets that the US Federal Reserve may not cut rates soon.
According to CoinShares data and market reports, the move erased much of the early-week gains that had pushed roughly $1.5 billion into the sector during the first two trading days. The shift was sharp and broad, though a few assets saw money flow in.
Smart Money Flees Bitcoin While Some Altcoins Attract Cash
Bitcoin-linked products bore the brunt of withdrawals, with about $405 million leaving Bitcoin ETPs. Ethereum funds were also hit, posting roughly $116 million in outflows. Multi-asset crypto products reported net redemptions near $21 million.
Based on reports, these outflows came as recent inflation and jobs data made investors lower the odds of a March Fed rate cut, weakening appetite for risk assets that had been boosted by earlier optimism.
Selective Inflows Show Pockets Of Interest
But not all t
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