Cryptocurrency funds remained green last week, although inflows declined significantly as crypto products were experimented with Record day of outflows after hawkish speech from Fed Chairman.

Speculators pumped a total of $308 million into funds over the past week, including in Bitcoin ETFs. But on Thursday, investors withdrew a record $576 million, according to data from European fund manager CoinShares. By Friday, that number had risen to $1 billion.

CoinShares said the sudden shift as investors pulled back was "most likely a response to the hawkish dots conspiracy issued by" the Federal Reserve. It was for this money He added more than $3.2 billion The value of the assets in the previous week, meaning that inflows decreased by more than 90% weekly.

The US central bank last week cut interest rates - as expected - but Federal Reserve Chairman Jerome Powell gave a speech in which he said he would not cut rates as aggressively in 2025, spooking investors in the process. Assets such as Bitcoin Other cryptocurrencies have historically performed better in a low interest rate environment.

After the Fed's speech, Bitcoin and other major assets rose decreased sharply. Bitcoin is Trading now For $93,245 per coin, after falling nearly 13% over seven days, CoinGecko shows. last tuesday, Touching a new all-time high Just over $108.00, just before the drop.

CoinShares also said on Monday that investors looking to gain exposure to altcoins last week through exchange-traded products that turned... Ethereum from Solana. Products offering Ethereum, the second-largest digital currency, received inflows of $51 million, while Solana saw outflows of $8.7 million.

Mutual funds tracking cryptocurrency prices performed particularly well after the US presidential election of Donald Trump, as the president-elect. He ran on a campaign To help the digital assets industry.

Modified by Andrew Hayward