Bitcoin, Ethereum and Altcoins Dip As BlackRock, Whales and Institutions Dump Pulls Billions of Dollars From Crypto Markets

Digital asset investment products saw their largest weekly outflows since March, as skepticism over Federal Reserve monetary policy weighed heavily on sentiment.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares says that institutional investors pulled $1.43 billion from crypto investment vehicles last week, with exchange-traded product (ETP) trading volumes surging to $38 billion – roughly 50% above this year’s average.

“Digital asset investment products recorded their first significant outflows in weeks, totalling US$1.43bn, the largest since March. Early in the week, pessimism around the Federal Reserve’s stance drove outflows of US$2bn. However, sentiment shifted later in the week following Jerome Powell’s address at the Jackson Hole Symposium, which was widely interpreted as more dovish than expected, sparking inflows of US$594m.”

Bitcoin (BTC) investment...

1.68K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.