DeepSeek’s launch led to notable crypto outflows of 534 million USD, significantly affecting Bitcoin (BTC) and Ethereum (ETH) ETFs with outflows of 457.6 million USD and 136.2 million USD respectively. Meanwhile, XRP managed to secure inflows amidst market challenges.
The overall volatility in the crypto market also influenced mining stocks, with companies like Riot Platforms and Marathon Holdings experiencing declines. This event exacerbated losses with the total ETP outflows reflecting a broader downturn across the crypto landscape.