Investors withdrew $72 million from digital asset investment products last week, according to CoinShares’ “Digital Asset Fund Flows Weekly Report,” as they prepared for the US Federal Reserve’s interest rate decision on May 3. The report noted a bearish market sentiment for the second consecutive week, resulting in outflows from crypto market funds across all geographies and providers, particularly in Germany and Canada. Bitcoin had the largest outflows at $46 million, while Ether products saw weekly outflows of $19 million. However, a few altcoin funds received minor inflows.
Blockchain equities experienced negative sentiment and outflows of $2.5 million last week, though their year-to-date net flows remained positive at $27 million. Although Bitcoin had significant price fluctuations in the past week, its price has risen by 72% this year, surpassing the S&P 500 index’s 9% gain.
