Crypto investment products recorded their first weekly outflows in five weeks, with $414 million leaving the market as investors reacted to rising inflation concerns and heightened tensions in the Middle East, CoinShares reported Monday.
The shift in sentiment followed changes in expectations around the June Federal Open Market Committee meeting in the US, where markets moved from anticipating rate cuts to pricing in rate hikes — a tougher macro backdrop for risk assets, CoinShares said.
Total assets under management fell to $129 billion, returning to levels last seen in early February and “broadly comparable to April 2025, during the initial phase of Trump’s tariffs,” according to CoinShares head of research James Butterfill. The reversal points to a broader move toward risk-off positioning driven by macroeconomic worries.
Ether led asset outflows, losing $222 million for the week and taking its year-to-date flows to a net negative $273 million — the weakest among tracked assets. Bitcoin saw $194 million in withdrawals but remains positive for the year with $964 million in net inflows. Short-Bitcoin products attracted $4 million, indicating some investors are hedging for further downside.
Other notable moves included Solana with $12.3 million in outflows, while XRP attracted $15.8 million in fresh capital.
Crypto exchange-traded products also showed risk-off behavior: spot Bitcoin ETFs ended a four-week inflow streak with $296 million in net outflows after earlier strong inflows exceeding $2.2 billion for the month. Spot Ether ETFs extended losses with $206.6 million in outflows for a second consecutive week.
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