Crypto Funds Bleed $360 Million After Powell Speech — Except Solana

Core Insights - Digital asset investment products experienced significant outflows of $360 million last week, primarily influenced by Federal Reserve Chair Jerome Powell's comments on interest rate cuts [1][2] - Bitcoin ETFs faced the largest withdrawals, losing $946 million, while Solana saw a record inflow of $421 million, indicating a divergence in investor sentiment [1][5] Digital Asset Market Overview - Powell's hawkish stance led to market uncertainty, with investors pulling $439 million from crypto products, predominantly from US investors [2][3] - The lack of major US economic data releases contributed to the overall market volatility during the week [3] Solana's Performance - Solana distinguished itself with $421 million in inflows, marking the second-highest weekly total for the asset [5] - The inflow surge was driven by the launch of new US Solana ETFs, including Bitwise's BSOL, which attracted record inflows during its initial trading week [6][7] - Year-to-date, Solana has accumulated $3.3 billion in inflows, solidifying its position as one of the fastest-growing digital assets among institutional investors [8]