CoinShares reports largest crypto outflows since US crackdown
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...