Bitcoin and ether ETFs see outflows after Fed signals possible rate hikes
Bitcoin and ether exchange-traded funds (ETFs) experienced significant outflows on Wednesday, with bitcoin funds losing $82 million and ether funds $29 million, following the Federal Reserve's hawkish stance. The Fed held interest rates steady but raised projections for future hikes, increasing the likelihood of rate increases as soon as October. This shift ended expectations of rate cuts that had supported the recent crypto rally, causing prices to stall and outflows to continue. The crypto market now faces uncertainty as investors watch for future Fed moves and whether ETF inflows will resume.
Bitcoin and ether exchange-traded funds (ETFs) experienced significant outflows on Wednesday, with bitcoin funds losing $82 million and ether funds $29 million, following the Federal Reserve's hawkish stance. The Fed held interest rates steady but raised projections for future hikes, increasing the likelihood of rate increases as soon as October. This shift ended expectations of rate cuts that had supported the recent crypto rally, causing prices to stall and outflows to continue. The crypto market now faces uncertainty as investors watch for future Fed moves and whether ETF inflows will resume.
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