Outflow of funds from digital investment assets amounted to $528 million
This situation was a reaction to fears of a recession in the United States and geopolitical problems
05.08.2024 - 13:55
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What’s new? Analysts at the investment company CoinShares have reported that digital investment assets faced outflows totaling $528 million for the first time in 4 weeks. According to them, this situation was a reaction to fears of a recession in the United States, geopolitical concerns, and the ensuing broader market liquidations across most asset classes. Trading volumes last week totaled $14,8 billion in exchange-traded products (ETPs), a below-average share of the overall market at 25%.
What else is known? Regionally, most of the outflows were concentrated in the US, where outflows totaled $531 million, Germany and Hong Kong also experienced outflows of $12 million and $27 million, respectively. Bitcoin outflows totaled $400 million for the first time after 5 weeks of inflows. Bitcoin short positions saw the first inflows of $1,8 million since June
As for Ethereum, outflows totaled $146 million. Total net outflows since the launch of spot exchange-traded funds (ETFs) in the US amounted to $430 million.
Outflows from blockchain stocks continue, with another $18 million last week, which is in line with outflows from broad technology-related ETFs.
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