Crypto investment products see weekly outflows after Powell remarks

Cryptocurrency investment products recorded roughly $360 million in net outflows last week as markets reacted to comments from Federal Reserve Chair Jerome Powell and a lull in U.S. economic data, while separate on‑chain and market indicators pointed to renewed pressure on ether and a major decentralized finance protocol reported a large exploit.

Market trackers showed most of the selling came from U.S. investors, responsible for about $439 million of the outflows. Bitcoin exchange‑traded funds accounted for the largest redemptions, roughly $946 million, while newly launched Solana spot ETFs attracted substantial inflows of about $421 million, marking one of their largest weekly intake totals and lifting year‑to‑date flows for Solana products. Ethereum funds posted modest inflows on a weekly basis of about $57.6 million, but shorter‑term flows into U.S. spot ether ETFs have been negative over several recent days, industry data indicate. The prior week had seen about $921 million of inflows after lower‑than‑expected U.S. consumer price data on October 24.

Traders and analysts linked the shift in flows to comments by Powell after the Federal Reserve delivered a rate cut that the...