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  Crypto investment products have seen over $450 million in cumulative outflows over the past nine weeks. 
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<div class="cointelegraph">
 <p>Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine <a rel="dofollow" title="weeks" href="https://thebittimes.com/tag/weeks.html">weeks</a>, according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment towards cryptocurrencies.</p>
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  <p lang="en" dir="ltr">Let’s analyse the latest dynamics in digital asset investment products. Here is our #FundFlows with @jbutterfill. <br><br> Last week, <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a> totalled US$54m.<br> There have been <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a> for 8 out of the last 9 <a rel="dofollow" title="weeks" href="https://thebittimes.com/tag/weeks.html">weeks</a> that aggregate to US$455m.<br><br> 1/4 pic.twitter.com/23TRrTuN3L</p>— CoinShares (@CoinSharesCo) September 18, 2023
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 <p>Crypto exchange traded products are designed to track crypto prices. When shares of these funds fall below their target prices, they sell off cryptocurrencies, causing <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a>. </p>
 <p>The week leading up to Sept. 18 saw outflows of $54 million&nbsp;— capping off nine weeks in which only a single week saw inflows. Bitcoin (BTC) saw the biggest drawdown from all exchange-traded products and was responsible for 85% of all outflows from these funds. Last week, over $45 million worth of Bitcoin was sold into the market by ETPs.</p>
 <p>Ether (ETH) funds were also not spared in this deluge of selling. They saw <a rel="dofollow" title="outflows" href="https://thebittimes.com/tag/outflows.html">outflows</a> of approximately $5 million last week.</p>
 <p>Despite these outflows, a few ETPs representing altcoins did well last week. Solana (SOL) ETPs saw net inflows of $700,000, Cardano (ADA) gained $430,000 and XRP added $130,000.</p>
 <p>CoinShares also provided data about the regional origin of crypto ETP outflows. The U.S. was responsible for 77% of the outflows, with Germany, Canada, and Sweden also having caused a sizable percentage of the outflows.</p>
 <p>Crypto ETPs offer an easier way for investors with traditional financial accounts to invest in digital assets. However, the issuance of a spot Bitcoin ETF has faced numerous regulatory and legal barriers in the U.S. In March, the Securities and Exchange Commission (SEC) denied VanEck’s proposal for a Bitcoin Trust. On Aug. 11, a U.S. Federal Appeals Court ruled that the SEC had been “arbitrary and capricious” in denying a Bitcoin ETP proposal from Grayscale.</p>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/crypto-fund-outflows-reach-nearly-half-a-billion-over-9-weeks-coinshares-tbt63142.html">https://thebittimes.com/crypto-fund-outflows-reach-nearly-half-a-billion-over-9-weeks-coinshares-tbt63142.html</a></p>

Crypto fund outflows reach nearly half a billion over 9 weeks — CoinShares

TheBitTimes

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