NFT News Daily Today TheBitTimes.com

Concerns regarding a possible US government shutdown catalyzed purchases of cryptocurrency investment products between Sept. 23 and 29.  According to CoinShares, the inflow to digital asset investment products reached $21 million last week. Experts indicated that the main activity occurred at the end of the week before the end of the financial year. At that time, there was still no certainty regarding the distribution of budget funds to continue the work of the departments. “The recent regional divergence persists, with the US seeing outflows totaling US$19m last week, while Europe and Canada saw inflows of US$23m and US$17m, respectively.” CoinShares report Bitcoin (BTC) funds recorded an inflow of $20.4 million after an outflow of $6 million in the previous reporting period. From structures that allow opening shorts on the first cryptocurrency, investors withdrew $1.5 million (a week earlier, $2.8 million). Source: CoinShares Altcoin-based products showed m...

CoinShares, the European alternative asset manager, shares that digital asset investment products saw outflows of $168 million in their Aug. 29 report. Since the United States regulatory crackdown on exchanges began in March 2023, this number is the largest outflow. The report cites Bloomberg as the source. It shares that outflows by asset were highest for Bitcoin (BTC) at $149.4 million, followed by Ethereum (ETH) with $16.8 million. Weekly Crypto Outflows Source: CoinShares Data states these outflows occur across most geographies, implying that the alleged negative sentiment is broad-based. That said, Germany, Canada, the United, and Switzerland accounted for the greatest outflows with $68 million, $61.2 million, $19.5 million, and $16.7 million, respectively. Together, this puts August’s outflows at $278 million. The report defines it as an exceptionally low trading volume market. Investment products are also highlighted, with their trading estimated at $1.3 billion this w...