Outflows from crypto investment products reached $17 million in the week ended Aug. 12, according to digital asset management firm Coinshares, ending a six-week run of inflows for the cryptocurrency industry.
Bitcoin (BTC) accounted for the lion’s share of these outflows with $21 million, driving a 2-week streak of outflows throughout August. However, falling Bitcoin short positions flowed into $2.6 million.
ProShares, Purpose, 3iQ Digital Asset Management and CI Investments crypto investment providers all saw corresponding outflows.
Per the statistics from Coinshares show that capital outflows are distributed across regions. Canadian outflows totalled $26 million, $10 million outflows from the U.S., accounting for the majority of outflows, and inflows to European exchanges totalled $20 million.
The corresponding outflows from other regions are not particularly large. The most notable were Australia, Brazil, and Switzerland, with outflows of $800,000, $1 million, and $600,000,...
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