US Bitcoin and Ether ETFs Experience Significant Outflows Amid Fed Rate Projections
- US spot bitcoin ETFs saw outflows of $82 million, while ether funds lost $29 million.
- BlackRock’s IBIT fund experienced a $31 million outflow, and ARKB lost $44 million.
- The Federal Reserve held rates at between 3.50% and 3.75%, with projections indicating a potential hike to a median of 3.8% by the end of 2026.
- Markets currently estimate a nearly 60% chance of a rate increase as early as October.
- The total crypto market value remained flat at approximately $2.26 trillion, with bitcoin priced around $63,800.
The recent outflows from ETFs reflect shifting sentiment among institutional investors following the Federal Reserve’s hawkish stance on interest rates. This change in outlook has contributed to a stall in the price momentum that had been building in the cryptocurrency market.
As bitcoin funds faced an overall loss of $82 million, the outlook for future inflows remains uncertain amid changing economic conditions and interest rate expectations.(Source)
