Share this article
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
Updated Jun 17, 2024, 11:19 a.m. Published Jun 17, 2024, 11:16 a.m.
Make us preferred on Google
- The outflows offset minor inflows for a broad selection of altcoins, including ETH, LIDO and XRP.
- Crypto markets have been laid low by a hawkish stance on interest rate cuts by the FOMC.
Bitcoin investment products saw a total of $621 million in outflows last week following mixed economic signals from the U.S, according to asset manager CoinShares.
Across the broader digital asset ecosystem, investment products saw net $600 outflows of $600 million, entirely driven by BTC's losses. This was the largest figure since March 22.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Grayscale's GBTC was the worst affected, as it often is, experiencing $273 million of outflows.
The outflows offset minor inflows for a broad selection of altcoins, including ETH, LIDO and XRP, CoinShares said on Monday.
U.S. inflation data for May, as measured by the Consumer Price Index (CPI), beat expectations when it was reported flat for the month. However, the good news was soon tampered by the Federal Open Market Committee (FOMC) of the Federal Reserve holding its benchmark rate range at 5.25%-5.50%. Its economic outlook called for just one 25 basis point rate cut this year.
Bitcoin was laid low by this hawkish stance, tumbling to its lowest point in four weeks on Friday at $65,100.
At the time of writing, BTC was flat at $66,000. The CoinDesk 20 Index (CD20), which measures the performance of the broader digital asset market, is 1.75% lower.
Read More: Explaining Bitcoin's Dull Price Action Amid Record ETF Inflows
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Asia Morning Briefing: Bitcoin holds steady above $90K as fresh money returns to crypto
New-year allocations support bitcoin prices as leverage cools and volatility expectations rise.
What to know:
- Bitcoin remains stable above $90,000, reflecting consolidation rather than renewed selling pressure.
- Ethereum shows resilience with strong weekly and monthly performance, despite a cooling in futures positioning.
- Gold is expected to reach new highs in 2026 due to falling rates, central bank buying, and geopolitical risks.
Top Stories
