Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares

Across the broader digital asset ecosystem, investment products saw net $600 outflows of $600 million, entirely driven by BTC's losses

Bitcoin investment products saw outflows of $621 million last week, largely driven by the poor performance of Grayscale’s Grayscale Bitcoin Trust (GBTC), a product that typically experiences outflows during periods of BTC price declines.

According to data from asset manager CoinShares, digital asset investment products saw net outflows of $600 million last week, driven entirely by BTC’s losses. This marks the largest net outflows since March 22.

Bitcoin investment products saw outflows of $621 million last week, largely driven by the poor performance of Grayscale’s Grayscale Bitcoin Trust (GBTC), a product that typically experiences outflows during periods of BTC price declines.

According to data from asset manager CoinShares, digital asset investment products saw net outflows of $600 million last week, driven entirely by BTC’s losses. This marks the largest net outflows since March 22.

The outflows were offset by minor inflows for a broad selection of altcoins, including ether, lido and XRP, CoinShares said Monday.

The outflows were driven largely by Grayscale, with its GBTC product seeing outflows of $273 million. Grayscale’s ether, XRP and Litecoin (LTC) products also saw outflows.

The outflows were driven largely by Grayscale, with its GBTC product seeing outflows of $273 million. Grayscale’s ether, XRP and Litecoin (LTC) products also saw outflows.

The outflows come as U.S. inflation data for May, as measured by the Consumer Price Index (CPI), came in better than expected, showing no change for the month. However, the good news was quickly tempered by the Federal Open Market Committee (FOMC) of the Federal Reserve raising its benchmark rate range to 5.25%-5.50%.

The outflows come as U.S. inflation data for May, as measured by the Consumer Price Index (CPI), came in better than expected, showing no change for the month. However, the good news was quickly tempered by the Federal Open Market Committee (FOMC) of the Block holding its benchmark rate range at 5.25%-5.50%.

Bitcoin was largely impacted by the hawkish stance, falling to its lowest level in four weeks on Friday at $65,100.

Bitcoin was largely impacted by the hawkish stance, falling to its lowest level in four weeks on Friday at $65,100.

At the last check, BTC was trading flat at $66,000. The CoinDesk 20 Index (CD20), which measures the performance of the broader digital asset market, was down 1.75%.

At the last check, BTC was trading flat at $66,000. The CoinDesk 20 Index (CD20), which measures the performance of the broader digital asset market, was down 1.75%.

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-investment-products-m-outflows-week-coinshares.html

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