CDS Crypto News Crypto Investment Products Experience $305M Outflow Amid Strong US Economy
Crypto News

Crypto Investment Products Experience $305M Outflow Amid Strong US Economy

62
Crypto Investment Products Experience $305M Outflow Amid Strong Us Economy

CoinShares Report: US Investors Lead $318M Outflow in Crypto Investment Products

Coinshares Report: Us Investors Lead $318M Outflow In Crypto Investment Products

Crypto investment products are experiencing significant withdrawals again following their peak multi-week inflows in recent months, despite positive economic reports from the US. According to CoinShares’ most recent digital asset fund flows report, which was released on September 2, outflows of $305 million were seen from digital asset investment products last week, primarily due to stronger-than-expected economic data in the US. According to the research, US investors lead the globe in the quantity of cryptocurrency investment products sold during the week of August 24–August 31, with $318 million in outflows.

August PCE Data Supports Fed’s Potential Rate Cut in September

The Personal Consumption Expenditures (PCE) price index increased 0.2% in August and 2.5% over the same time the previous year, according to US Commerce Department data released on August 30. The US Federal Reserve, which is expected to implement its first interest rate drop in more than four years, views consumer spending as the primary driver of economic development in the US, making the PCE one of its favored indicators of inflation. September market rate cuts were expected when the report was released. The likelihood of a 50 basis point cut was decreased, and a 24 basis point reduction was alluded to in the PCE report.

We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the Fed gets closer to a pivot,

CoinShares

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto Investment Products Experience $305M Outflow Amid Strong Us Economy
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Bitcoin Rally at Crossroads: LTH Selling and Institutional Demand

Bitcoin faces selling pressure as long-term holders reduce their exposure. Can institutional...

Bitcoin Price Soars: Could $200,000 Be Possible by 2025?

Bitcoin hits a new all-time high of $98K, with predictions pointing to...

MicroStrategy’s Bitcoin Acquisition Strategy: Bold Bet or Risky Move?

MicroStrategy's aggressive Bitcoin acquisition strategy, involving a $42 billion plan funded through...

Bitcoin Act Gains Momentum in the US: A Potential $1 Million Bitcoin Price

The proposed Bitcoin Act in the U.S., supported by Cynthia Lummis and...