Bitcoin ETF

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Digital asset investments in the US experienced a notable $504 million outflow last week, while Hong Kong’s new ETFs contributed $307 million in inflows, offsetting potential losses, as per <a href="https://blog.coinshares.com/volume-181-digital-asset-fund-flows-weekly-report-47a9659e08ae" target="_blank" rel="noreferrer noopener">CoinShares</a> data. So now, the total outflow stands at $251 million. 
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 📊 Digital asset investment products saw outflows totalling US$251m for the 4th consecutive week. While BTC continues to see outflows, ETH saw inflows totalling US$30 million. Get our insights in our full report as well as more data: <a href="https://t.co/WnD46qjimT" target="_blank">https://t.co/WnD46qjimT</a> <a href="https://t.co/z70LjB27vT" target="_blank">pic.twitter.com/z70LjB27vT</a>— CoinShares (@CoinSharesCo) <a href="https://twitter.com/CoinSharesCo/status/1787826523887608307?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 7, 2024</a>
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Price fluctuations likely triggered sell orders, resulting in capital outflows of $504 million in the U.S. Additional withdrawals were noted in Canada, Switzerland, and Germany, totaling $9.6 million, $9.8 million, and $7.3 million, respectively. 
Bitcoin experienced the most substantial outflow, totaling $284 million, while other cryptocurrencies like Avalanche, Cardano, and Polkadot saw inflows of $500,000, $400,000, and $300,000, respectively.&nbsp;Ethereum broke its 7-week spell of outflows, seeing $30 million of inflows last week. 
Notably, new exchange-traded products in Hong Kong generated $307 million in inflows, cushioning potential outflows. However, Hong Kong’s cryptocurrency ETFs need to catch up to their American counterparts, which have received only $22 million in investments to date.&nbsp; 
On May 6, Hong Kong ETFs registered their initial cumulative outflow, primarily affecting ChinaAMC’s Bitcoin ETF with a $4.9 million outflow, totaling $1.7 million on the first trading day of the week, as per <a href="https://farside.co.uk/?p=1508" target="_blank" rel="noreferrer noopener">Farside Investors</a> data. 
The significant outflows from digital asset investments, along with the difference in investment volumes between Hong Kong and the U.S., indicate the changing nature of cryptocurrency markets and investor sentiments. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/07/south-koreas-winning-party-moves-forward-bitcoin-etf-plans/" target="_blank" rel="noreferrer noopener">South Korea’s Winning Party moves forward Bitcoin ETF plans</a> 
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Hong Kong Spot ETFs Ease US Outflow in Digital Assets

The Crypto Times

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