Recent outflows of funds from cryptocurrency ETPs are mainly due to fluctuations in macro interest rates rather than a loss of confidence in digital assets. The timing of the outflows coincides with the market lowering expectations of a recent Federal Reserve rate cut, prompting professional capital to reduce risk exposure in institutional portfolios (including cryptocurrencies). The uneven flow of funds—Bitcoin and Ethereum experiencing redemptions, while Solana, XRP, and Sui attract inflows—indicates market rotation rather than panic. This phenomenon highlights the maturity of cryptocurrencies as tradable macro assets within the traditional financial system.