Ethereum

United

Solana

Bitcoin

<![CDATA[<figure class="image"><img src="https://cimg.co/news/125521/331463/bitcoin-media-library-ori.jpeg" srcset="https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_1280_853.jpeg 1280w, https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_1200_800.jpeg 1200w, https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_900_600.jpeg 900w, https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_720_480.jpeg 720w, https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_600_400.jpeg 600w, https://cimg.co/news/125521/331463/responsive-images/bitcoin-media-library-ori___media_library_original_300_200.jpeg 300w" width="1280" class="content-img" alt=""><figcaption>Source: Adobe / Luisa</figcaption></figure>Cryptocurrency investment products recorded outflows for the sixth consecutive week with market leaders Bitcoin (BTC) and Ethereum (ETH) leading the pack.A new <a href="https://blog.coinshares.com/volume-150-digital-asset-fund-flows-weekly-report-d12d3da03d37">CoinShares market report</a> shows total outflows from digital asset products totaling $9 million with BTC accounting for $6 million in its third consecutive week of outflows while leading altcoin ETH in its sixth consecutive week of outflows posted $2.2 million.&nbsp;<img src="https://cimg.co/news/125521/331464/1-rz46p17n4kqcehw53l-ttq.webp" srcset="https://cimg.co/news/125521/331464/responsive-images/1-rz46p17n4kqcehw53l-ttq___media_library_original_720_722.webp 720w, https://cimg.co/news/125521/331464/responsive-images/1-rz46p17n4kqcehw53l-ttq___media_library_original_600_602.webp 600w, https://cimg.co/news/125521/331464/responsive-images/1-rz46p17n4kqcehw53l-ttq___media_library_original_300_301.webp 300w" width="720" class="content-img" alt="">As the crypto winter ravages the space, volumes were also significantly lower at $820 million for the week than the yearly average of $1.3 billion&nbsp;Short-bitcoin saw total exits hitting $2.8 million far below its $15 million high this month with 78% of assets under management (AUM) withdrawn in the last 22 weeks.&nbsp;Multi-asset products are also in slight losses this past week with total outflows for the year tapping $32 million.Meanwhile, amidst losses from BTC and ETH, altcoins like Ripple (XRP) and Solana (SOL) recorded inflows of $0.66 million and $0.31 million following investor confidence in the other altcoins.&nbsp;<h2 id="bull-s-eye-growth-amid-chaos">Bull's eye growth amid chaos&nbsp;</h2>At press time, the price of Bitcoin trades at $26,337, way below this year&rsquo;s $31,000 high after the <a href="https://cryptonews.com/news/blackrocks-btc-wallet-sparks-concerns-closer-look-at-their-intentions.htm">BlackRock ETF application</a> followed by several firms making similar moves showing a renewed institutional investment.Despite this, bulls are keen on a change in the status quo and this can be seen in the week-on-week reports so far.In the previous report, <a href="https://blog.coinshares.com/volume-149-digital-asset-fund-flows-weekly-report-52c42c5fa2d4">weekly outflows in investment products</a> totaled $54 million with a staggering eight weeks sum of $455 million. BTC also led the pack with $45 million in exits, 85% of the total volume.<img src="https://cimg.co/news/125521/331465/1-lws0p26la0zhdzdwej0z-a.webp" srcset="https://cimg.co/news/125521/331465/responsive-images/1-lws0p26la0zhdzdwej0z-a___media_library_original_720_722.webp 720w, https://cimg.co/news/125521/331465/responsive-images/1-lws0p26la0zhdzdwej0z-a___media_library_original_600_602.webp 600w, https://cimg.co/news/125521/331465/responsive-images/1-lws0p26la0zhdzdwej0z-a___media_library_original_300_301.webp 300w" width="720" class="content-img" alt="">Ethereum on the other hand recorded limited outflows of $4.8 million with the United States posting the highest number of exits.<h2 id="europe-takes-the-torch">Europe takes the torch&nbsp;</h2>It has been widely noted that the UK market has been in a bit of chaos following unclear rules and multiple court cases. This reality is encapsulated in the report.&nbsp;Per the data, Europe recorded inflows of $16 million in digital asset products while United States investors withdrew $14 million from the market pointing to a divergence in recent investment narratives in both regions.&nbsp;In total monthly investments, outflows in the US remain higher at $67.5 million while Europe recorded $24 million with Germany, Sweden, France, and Switzerland most notable.The major driver of this trend remains clear regulations in Europe following the signing of the <a href="https://cryptonews.com/news/markets-in-crypto-assets-mica-framework-signed-into-law-by-eu-officials.htm">Market in Crypto Assets (MiCA)</a> regulation.&nbsp;Recently industry executives have criticized the bottleneck and enforcement by court approach of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission.&nbsp;Pro-market policy watchers have also reiterated a potential migration of web3 talent away from the US to industry-friendly jurisdictions.&nbsp;<figure class="media"><oembed url="https://twitter.com/cryptonews/status/1658054359127662592?s=46&amp;t=sCvh3f3rMDfXyJcf1y1Eyg"></oembed></figure>This month, Coinbase <a href="https://cryptonews.com/news/coinbase-pushes-toward-global-expansion-sets-sights-regulated-markets.htm">announced a global expansion plan</a> listing regions like the UK, Europe, Brazil, and Hong Kong as &ldquo;near-term priorities&rdquo; while criticizing regulators in the United States.
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Digital Asset Products Record Outflows In Sixth Consecutive Week, Europe Overtakes US in Bullish Stance: CoinShares Report

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