Digital Asset Funds See $147M Outflows Amid Economic Data; Solana Gains $5.3M, $159M Bitcoin, $29M Ethereum

Digital asset investment products experienced minor outflows totaling $147 million last week, according to CoinShares. Bitcoin led the outflows with $159 million, while Ethereum saw $29 million in outflows. Solana, however, stood out with $5.3 million in net inflows, reversing the previous week's outflows. The outflows were driven by stronger-than-expected economic data, which dampened hopes for rate cuts. Additionally, Bitcoin ETFs saw weekly outflows of $274.3 million, and Ethereum ETFs experienced $25.4 million in outflows. BlackRock's $IBIT ETF had its fourth-ever outflow day, and Bitwise filed for the conversion of its futures-based ETFs to 'Trendwise' strategies. Franklin Templeton also sought SEC approval for new ETF strategies.

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