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<div class="cryptonews"> 
 <p class="is-style-lead">CoinShares, the European alternative asset manager, shares that digital asset investment products saw outflows of $168 million in their Aug. 29 report.</p> 
 <p>Since the United States regulatory crackdown on exchanges began in March 2023, this number is the largest outflow.</p> 
 <p>The <a rel="dofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> cites&nbsp;Bloomberg as the source. It shares that <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a> by asset were highest for Bitcoin (BTC) at $149.4 million, followed by Ethereum (ETH) with $16.8 million.</p> 
 <figure class="wp-block-image size-full">
  <img decoding="async" width="1472" height="1300" src="https://cdn.thebittimes.com/images/2023/08/30/0d72e0164a1a0080a3d99aaf896b168d.webp" alt="CoinShares reports largest crypto outflows since US crackdown - 1" class="wp-image-14189400">
  <figcaption class="wp-element-caption">
   Weekly Crypto Outflows Source: CoinShares
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 <p>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.</p> 
 <p>Together, this puts August’s <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a> at $278 million. The <a rel="dofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> defines it as an exceptionally low trading volume market. Investment products are also highlighted, with their trading estimated at $1.3 billion this week, 16% lower than the yearly average.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CoinShares reports surge in institutional capital in crypto markets 
 </div> 
 <p>Although several reasons may be attributed to the <a rel="dofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> numbers, including the ongoing <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> winter, CoinShares suggests that this week it can be linked to the spot-based ETFs for Bitcoin taking longer to be accepted in the United States than expected, with another delay recently being announced by the SEC.</p> 
 <h2 class="wp-block-heading" id="bitcoin-continues-to-add-to-losses">Bitcoin continues to add to losses</h2> 
 <p>Unfortunately, the markets continue to look bleak for Bitcoin. In an Aug. 20 report from&nbsp;Bloomberg, analysis shared that Bitcoin has only continued to add losses in what was the worst week since last November, attributed to lower demand for “riskier investments.” As part of the report, the asset was said to fall 1% toward $26,000 in a two-month low, following a loss of 10% in the previous seven days.</p> 
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  <div class="wp-block-embed__wrapper"> <iframe title="Bitcoin's Very Bad Week | Bloomberg Crypto" width="1020" height="574" src="https://www.youtube.com/embed/9k7hoF_lEfM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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 <p>Although the data showed it was Bitcoin that was facing the biggest losses, it is worth noting that as the&nbsp;largest cryptocurrency by market cap, the public’s market sentiment toward it often impacts the rest of the crypto industry. </p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> CoinShares releases Q4 financial results for FY 2022 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/coinshares-reports-largest-crypto-outflows-since-us-crackdown-tbt60897.html">https://thebittimes.com/coinshares-reports-largest-crypto-outflows-since-us-crackdown-tbt60897.html</a></p>

CoinShares reports largest crypto outflows since US crackdown

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