Institutional De-RiskingSpeaking on Schwab Network’s Crypto Corner, Adam Lynch, director of equity research at the Schwab Center for Financial Research said Bitcoin ETFs have experienced approximately $1.7 billion in outflows over the past week and more than $5.4 billion over the last month.Crypto investment products overall have recorded roughly $4.5 billion in outflows during the past three weeks.The recent selling marks a sharp reversal from early May, when Bitcoin ETFs enjoyed a 10- to 12-day inflow streak.“We think this is a bit of institutional de-risking,” Lynch commented.He pointed to macroeconomic concerns including inflation, interest rates and geopolitical tensions involving Iran as factors weighing on investor sentiment.While BTC prices briefly touched the mark below $60,000 last week, Lynch highlighted that it has managed to maintain support.Capital Rotating Into XRP And AltcoinsWhile BTC and ETH products have experienced heavy outflows, Lynch highlighted that other segments of the market continue attracting institutional capital.
XRP ETFs have brought in more than $20 million so far in June despite weakness elsewhere in the crypto market.
HYPE has attracted roughly $10.8 million in inflows this month and has gained approximately 30% over the past month and 100% over the last six months.
