‘Unprecedented’ Post-Election Streak for Crypto Products Ends As Institutions Dump $415,000,000: CoinShares
International digital asset management firm CoinShares says institutional crypto investors have finally ended their post-US election 19-week crypto buying spree. According to Coinshares, institutional whales pulled over $415 million out of crypto products last week after nearly 20 weeks of inflows. “Digital asset investment products saw their first significant outflows, totaling $415m, following an unprecedented 19-week post-US election inflow streak that amassed $29.4bn — far surpassing the $16bn recorded in the first 19 weeks of US spot ETF (exchange-traded fund) launches that began in January 2024.” Source: CoinShares Coinshares also postulates that a hawkish Fed may have precipitated the drop. “We believe these outflows were triggered by the Congressional meeting with Fed Chair Jerome Powell, who signaled a more hawkish monetary policy stance, coupled with US inflation data exceeding expectations.” Per the CoinShares report, the Unit...