Bitcoin ETFs See $600 Million Exodus as Fed Takes Hawkish Turn

• Bitcoin leads outflows, with $621M withdrawn, reflecting cautious investor sentiment after FOMC meeting.
• Despite daily outflows, cumulative net inflow for digital asset ETFs remains positive at $15.11B, showing long-term confidence.
• High trading activity with $1.76B traded and overall ETF net assets growing 4.42% to $57.27B despite recent setbacks.

Digital asset investment products, particularly those focused on Bitcoin, experienced significant outflows of $600 million last week, marking the largest weekly withdrawal since March 22, 2024.

Crypto reporter Colin Wu attributed this sharp decline to a more hawkish-than-expected Federal Open Market Committee (FOMC) meeting, which prompted investors to reduce their exposure to fixed-supply assets, notably Bitcoin. The outflows were concentrated entirely in Bitcoin, with $621 million withdrawn.

Digital asset investment products experienced outflows totalling US$600 million last week, the largest since March 22, 2024, likely due to a more hawkish-than-expected FOMC meeting, prompting investors to scale back their exposure to fixed-supply assets. The outflows were…

— Wu Blockchain (@WuBlockchain) June 17, 2024

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