Cryptocurrency analytics firm CoinShares has released its weekly fund flow report for digital asset investment products.
According to the report, a total of $360 million in outflows occurred last week. This trend was attributed to investors’ “hawkish” assessment of cautious statements by Fed Chair Jerome Powell regarding a potential interest rate cut in December.
The report showed that the largest outflow occurred in Bitcoin ETFs. Bitcoin investment products alone recorded a net outflow of $946 million. CoinShares attributed this to Powell’s statements creating uncertainty about interest rate cuts, arguing that Bitcoin is the most sensitive digital asset to monetary policy.
Despite this, demand for Solana (SOL) funds has been remarkable. Driven by new US ETFs, Solana products saw $421 million inflows, the second-largest weekly inflow in history. This brings Solana’s total inflows since the beginning of the year to $3.3 billion.
Ethereum (ETH) funds also closed the week with $57.6 million in net inflows. CoinShares noted that while investors were hesitant in daily flows, the overall trend remained positive.
According to CoinShares data, weekly fund flows were as follows:
- Bitcoin (BTC): –$946 million
- Ethereum (ETH): +$57.6 million
- Multi-asset funds: +$8.3 million
- Solana (SOL): +$421.1 million
- XRP: +$43.2 million
- Sui (SUI): +$9.4 million
- Litecoin (LTC): +$1.5 million
- Cardano (ADA): +$0.7 million
- Chainlink (LINK): +$0.5 million
- Other assets: +$43.4 million
Looking at the regional breakdown, negative investor sentiment was concentrated in US-based products. While the country saw $439 million in outflows overall, European countries like Germany ($32 million) and Switzerland ($30.8 million) attracted attention with positive, albeit limited, inflows.
Despite expectations of a rate cut, investor caution has heightened uncertainty in the market. According to CoinShares, the large outflows, particularly from Bitcoin funds, suggest that market sentiment has not yet fully recovered. Conversely, inflows into major altcoins like Solana and Ethereum suggest that investors are continuing to diversify.
*This is not investment advice.