Between June 15 and June 21, outflows from cryptocurrency investment products totaled $584 million, amounting to $1.18 billion over the past two weeks, according to calculations by CoinShares.
Analysts attributed the continued negative trend to persistent pessimism regarding the Federal Reserve’s interest rate trajectory following its latest meeting.
The total volume of assets under management fell to $92.2 billion.
Trading volume for exchange-traded products (ETPs) decreased from $11 billion to $6.9 billion.
Clients withdrew $630 million from bitcoin-related instruments, compared to $621 million in the previous reporting period.
From structures allowing short positions on digital gold, investors withdrew $1.2 million (previously added $1.5 million).
In Ethereum funds, positive momentum was interrupted after four consecutive weeks, with outflows of $58 million following an inflow of $13.1 million.
Products based on a basket of altcoins saw demand of $98 million. Specialists viewed this as investors seeking to capitalize on market weakness.
Instruments based on Solana, Litecoin, and Polygon also saw inflows of $2.7 million, $1.3 million, and $1 million, respectively.
In June, digital asset manager 3iQ filed for the registration of Canada’s first Solana ETF with a staking reward option (6-8% annually).
Previously, Matrixport co-founder Daniel Yan suggested Solana as the next ETF candidate. Jeffrey Kendrick, head of research at Standard Chartered, also predicted the emergence of a SOL ETF in 2025.
This view is shared by Ripple CEO Brad Garlinghouse and Galaxy Digital CEO Mike Novogratz.