Outflows from cryptocurrency investment products amounted to $206 million from April 13 to 19, following $126 million the previous week, according to analysts at CoinShares.
Experts attributed the continued negative trend to concerns regarding the policy of the Fed.
“The data indicates a decline in investor appetite for ETP/ETF amid expectations that the Federal Reserve will maintain high interest rates longer than anticipated,” the report states.
Clients withdrew $192 million from bitcoin-related instruments, compared to $110 million in the previous reporting period.
Structures allowing short positions on the leading cryptocurrency saw outflows of $0.3 million, following previous inflows of $1.7 million.
Outflows from Ethereum funds increased from $28.7 million to $34.2 million, marking the sixth consecutive week of negative dynamics.
Among altcoins, there was interest in products based on Litecoin ($3.2 million) and Chainlink ($1.7 million).
On April 20, the fourth halving occurred in the network of the leading cryptocurrency. The reward for a mined block was reduced from 6.25 BTC to 3.125 BTC.
ForkLog covered the further developments in a separate article.
Earlier, on April 12–13, the ForkLog team held the AllTimeHalf 2024 online forum in honor of the halving, featuring developers, entrepreneurs, enthusiasts, and visionaries. Recordings are available on the YouTube channel.
We also recommend exploring the event-related research by CoinGecko and Binance.