Cryptocurrency funds stayed green last week, though inflows fell dramatically as crypto products experienced a record day of outflows following a hawkish speech from the Federal Reserve boss.

Speculators pumped a total of $308 million into funds over the course of last week, including into Bitcoin ETFs. But on Thursday, investors pulled out a record $576 million, data from European fund manager CoinShares shows. By Friday, that number had risen to $1 billion. 

CoinShares said that the sudden shift with investors backtracking was “likely in response to the hawkish dot plot released” by the Federal Reserve. Such funds had added more than $3.2 billion worth of assets the previous week, which means inflows fell by more than 90% week-over-week.

America’s central bank last week cut interest rates—as expected—but the Fed’s chair, Jerome Powell, gave a speech saying that it would not cut as aggressively in 2025, spooking investors in the process. Assets like Bitcoin and other cryptocurrencies have historically performed better in a low interest rate environment. 

Following the Fed’s speech, Bitco

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Author: Mathew Di Salvo

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