Digital asset investment products experienced significant outflows totaling $528 million last week, marking the first decline in four weeks, according to CoinShares
Digital asset investment products experienced significant outflows totaling $528 million last week, marking the first decline in four weeks, according to CoinShares.
The downturn was primarily attributed to rising recession fears in the U.S. and ongoing geopolitical concerns.
Bitcoin funds were particularly affected, seeing outflows of $400 million after five consecutive weeks of inflows. Ethereum also faced challenges, with $146 million in outflows.
Despite this, U.S. Ethereum ETFs reported nearly $49 million in net inflows on August 5, indicating some investor confidence amid market turbulence.
The overall sentiment in the crypto market has been notably negative, with Bitcoin ETFs alone shedding $168 million due to a 20% price drop.
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