Crypto investment products saw outflows totaling $168 million last week, marking the largest since a U.S. regulatory crackdown in March.
following U.S. inflation data that came in slightly below expectations. August has also witnessed notably low trading volume, Butterfill added, with investment products trading at $1.3 billion for the week — 16% below the yearly average.Bitcoin led the move as usual with outflows of $149 million. However, bitcoin investment products maintained a positive net flow for the year, totaling $265 million.
Interestingly, many investors also continue to offload their short bitcoin positions, resulting in outflows of $4 million during the past week. This trend has been ongoing for 18 consecutive weeks. Ether investment products weren't spared either, registering $16.8 million in outflows. However, XRP, Litecoin, Cardano and Solana products fared better, seeing minor inflows totaling $0.5 million, $0.4 million, $0.2 million and $0.1 million, respectively.
The negative sentiment wasn't confined to a specific region, seeing widespread outflows across geographies. However, Germany and Canada, which have seen the most activity in recent months, witnessed outflows of $68 million and $61 million, respectively. The U.S. saw the third-largest outflows, totaling $19.5 million.The last time outflows approached these levels was following a U.S. regulatory crackdown on crypto exchanges in March.
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