Crypto investment products witnessed a setback last week, recording net outflows of $305 million as August came to a close.
Digital asset products witnessed net outflows totaling $305 million after a previous week of high inflows. Bitcoin recorded the highest outflows, shedding $318 million as expectationsof the Fedcutting interest rates by September declined. Ethereum products also saw outflows of $5.7 million, while Solana saw inflows of $7.6 million.
The inflows were the highest the product has seen since March, indicating bearish investors are becoming active. Meanwhile, Ethereum ETFs witnessed outflows of $5.7 million last week, stretching its outflow record to a third consecutive week. On the other hand, Solana investment products saw inflows totaling $7.6 million. Bitcoin, altcoins, stablecoins FAQs What is Bitcoin? Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.
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