From July 26 to August 1, $223 million was withdrawn from cryptocurrency funds, the first outflow in 15 weeks. At the beginning of the week, the capital inflow was $883 million, but by the end of the week, the situation had changed. This is attributed to the meeting of the US Federal Reserve, where the rate remained in the range of 4.25-4.5%, as well as profit-taking by investors.
Bitcoin products suffered the biggest blow, losing $404 million. Nevertheless, since the beginning of the year, their net inflow has remained at the level of $20 billion. Experts explain the volatility by bitcoin’s sensitivity to monetary policy.
Contrary to the general trend, Ethereum-based products recorded an influx of $134 million, continuing the positive trend for the 15th week in a row. Funds also went to XRP ($31.3 million), Solana ($8.8 million) and SEI ($5.8 million) funds. The leader was BlackRock’s bitcoin ETF, which raised $749 million in a week. The total investment in it for the year amounted to $26.6 billion.
Hong Kong was the leader by region, with an influx of $170.4 million. Switzerland ($52.4 million), Canada ($12.4 million) and Australia ($7.6 million) showed positive results. However, the United States, Germany, Sweden, and Brazil lost $383 million, $35.5 million, $33.3 million, and $12.8 million, respectively. A week earlier, the funds raised $1.9 billion.
