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<\/p>\n Digital asset investment products experienced significant outflows totaling $528M, led by Bitcoin (BTC) and Ethereum (ETH), amid recession fears and geopolitical concerns, according to CoinShares.<\/p>\n
Digital asset investment products experienced substantial outflows for the first time in four weeks, totaling $528 million, according to CoinShares. This trend is attributed to fears of a potential recession in the United States, geopolitical concerns, and broader market liquidations across various asset classes.<\/p>\n Bitcoin (BTC) saw significant outflows amounting to $400 million, marking the first outflow after five consecutive weeks of inflows. Ethereum (ETH) also faced outflows totaling $146 million, bringing the net outflows since the launch of ETFs in the U.S. to $430 million. Notably, the positive inflows of $430 million from newly launched U.S. ETFs were overshadowed by $603 million in outflows from the incumbent Grayscale trust, along with minor outflows from European ETPs.<\/p>\n The majority of outflows were concentrated in the U.S., amounting to $531 million. Germany and Hong Kong also experienced outflows of $12 million and $27 million, respectively. Conversely, Canada and Switzerland saw the price weakness as a buying opportunity, with inflows of $17 million and $28 million, respectively. Trading volumes in ETPs totaled $14.8 billion last week, representing a lower-than-average proportion of the total market at 25%. The price correction from Friday\u2019s close resulted in $10 billion being wiped off the total ETP Assets under Management (AuM).<\/p>\n Short-Bitcoin products saw the first measurable inflows since June, totaling $1.8 million. Blockchain equities continued to see outflows, with last week recording an additional $18 million in outflows, in line with broader tech-related ETFs.<\/p>\n For more detailed insights and data, the full report can be accessed on the CoinShares blog<\/a>.<\/p>\n
\n Luisa Crawford<\/a>
\n Aug 05, 2024 09:04<\/span>
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\n ![\"Bitcoin](\"https:\/\/image.blockchain.news:443\/features\/FCAF30107F93017A469BDB76DCCE7D957DFC034943E2204CF5967AAF05B60663.jpg\")
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\n <\/figure>\nBitcoin and Ethereum<\/dfn><\/i><\/b><\/u><\/a> Lead the Outflows<\/h2>\n
Regional Outflows and Trading Volumes<\/h2>\n
Other Digital Assets and Blockchain Equities<\/h2>\n