For the past eleven weeks, investors have withdrawn money from blockchain stocks due to growing anxiety over Bitcoin‘s halving event. With miners now earning only 3.125 Bitcoins as rewards instead of the previous 6.25 Bitcoins, concerns about profitability are mounting. This trend has resulted in a significant $9 million withdrawal from blockchain equities. The potential impact on mining operations’ revenue and financial stability is fueling these fears, which could ultimately affect stock prices.
In the past week, investments in digital assets experienced a withdrawal of $206 million. The decrease in interest is reflected in dropping trading volumes, suggesting that investors are less enthusiastic due to anticipation that the Federal Reserve will maintain high-interest rates for an extended period. Bitcoin witnessed outflows totaling $192 million, while short-selling actions remained relatively muted. Ethereum products also saw outflows, making it the sixth consecutive week of declines.
In the past week, multi-asset investments drew in approximately $9 million, with Litecoin and Chainlink bringing in around $3.2 million and $1.7 million each. On the other hand, US ETFs experienced a significant withdrawal of funds to the tune of $244 million. Notably, required US ETFs accounted for most of this outflow. Canada and Switzerland witnessed inflows of approximately $30 million and $8 million, respectively, while Germany recorded minimal outflows worth $8 million.
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2024-04-23 02:28