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CoinShares: Digital asset investment products saw a net outflow of $528 million last week

CoinShares: Digital asset investment products saw a net outflow of $528 million last week

CointimeCointime2024/08/05 09:45
By:Cointime

According to the latest weekly report data from CoinShares, digital asset investment products experienced capital outflows for the first time in four weeks, totaling $528 million. This is mainly due to reactions to the US economic recession, geopolitical concerns, and market-wide liquidation.The total outflow of Bitcoin funds was $400 million, the first outflow after five weeks of inflow. The total outflow of Ethereum funds was $146 million, and the net outflow since the launch of the US ETF reached $430 million.Last week, the total trading volume of ETP was $14.8 billion, accounting for 25% of the total market, which is below average. The price correction on Friday led to a decrease of $10 billion in the total assets under management of ETP.From a regional perspective, the main capital outflows were concentrated in the United States, reaching $531 million, with Germany and Hong Kong flowing out $12 million and $27 million respectively. Canada and Switzerland had capital inflows of $17 million and $28 million respectively.Bitcoin experienced a $400 million outflow of funds after five weeks of inflows, while short Bitcoin products saw a significant inflow of $1.8 million for the first time since June.The total outflow of Ethereum funds was $146 million, and the net outflow since the launch of the US ETF was $430 million. Although the new ETF launched in the US last week saw a capital inflow of $430 million, it was offset by the $603 million outflow of funds from Grayscale Trust. European ETPs also experienced small-scale capital outflows.Blockchain stocks continued to experience capital outflows, with outflows of $18 million last week, consistent with the outflow of funds from technology-related ETFs.

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