Digital asset funds see first net outflow in 5 weeks

Digital asset investment products saw total net outflows of $414 million last week, marking the first time in five weeks that more money left the funds than entered, CoinShares reported in its weekly fund flow report. Bitcoin products accounted for $194 million of the outflows, while Ethereum products saw $222 million exit. CoinShares attributed the shift to prolonged conflict in Iran and rising inflation concerns. The firm noted that a decisive factor was the changing outlook for the FOMC's meeting this coming June, with expectations shifting from a potential rate cut to the possibility of a rate hike.