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 <p>According to a new report by CoinShares, the digital asset industry saw a whopping $168 million worth of out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> over the last week, with Bitcoin (BTC) leading the pack. This represented the highest out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> from the sector “since the US regulatory crackdown on exchanges in March 2023.”</p> 
 <p>According to CoinShares, BTC was at the center of the out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, with $149 million. Ethereum (ETH), on the other hand, saw out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> worth $16.8 million. On a month-to-date basis, Bitcoin saw out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $251.2 million, while Ethereum saw out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $29.8 million. The total out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> for the month of August now sit at $278 million. Meanwhile, XRP and Litecoin (LTC) saw minor in<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.5 million and $0.44 million, respectively.</p> 
 <p><strong>Also Read: Argentina is Adopting Bitcoin Faster than El Salvador: Ark Invest</strong></p> 
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 <p>However, the report noted that fund <a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> remain positive for BTC on a yearly basis, with $265 million.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="795" src="https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp" alt="" class="wp-image-109270" srcset="https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 1024w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 300w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 768w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 380w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 550w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 800w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 1160w, https://cdn.thebittimes.com/images/2023/08/29/c3d263f1ddbff818f0469057aaabc8d3.webp 1366w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: CoinShares
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 <p>Additionally, CoinShares mentioned that the negative sentiment is global as the “out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> were spread across most geographies.” Germany and Canada saw most of the action, with out<a rel="dofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $68 million and $61 million, respectively.</p> 
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 <h3 class="wp-block-heading" id="h-why-did-bitcoin-see-such-a-massive-outflow-of-funds">Why did Bitcoin see such a massive outflow of funds?</h3> 
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  <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp" alt="Bitcoin Rangebound Below $29K As Traders Uncertain on Fed’s Rate Path" class="wp-image-107371" srcset="https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 1024w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 300w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 768w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 380w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 550w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 800w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 1160w, https://cdn.thebittimes.com/images/2023/08/29/d803fbad59be5b86cfa302b51e935180.webp 1260w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Forkast News
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 <p>According to CoinShares, the negative sentiment could be attributed to <strong>“the increasing acceptance that a spot-based ETF for Bitcoin in the US is likely to take longer than many expect.”</strong></p> 
 <p><strong>Also Read: 7 Bitcoin ETF Deadlines Are Approaching In a Week: Here’s When</strong></p> 
 <p>The U.S. Securities and Exchange Commission recently delayed the second deadline for 21Shares and ARK Invest’s BTC ETF decision. The first deadline for seven different spot Bitcoin (BTC) ETFs is within the first week of September. Many believe that the SEC will probably delay these as well. There is a possibility that we will not have a decision from the SEC regarding the ETF applications until early 2024.</p> 
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  <li>bitcoin</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-leads-168-million-smart-money-outflows-tbt60790.html">https://thebittimes.com/bitcoin-leads-168-million-smart-money-outflows-tbt60790.html</a></p>

Bitcoin Leads $168 Million 'Smart-Money' Outflows

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TheBitTimes

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