- Digital asset investment products saw $55 million worth of outflows during the week ending August 18 as the crypto market experienced its most significant pullback since March, with Bitcoin’s price dropping 12% on Thursday to hit a two-month low of $25,240.
Butterfill noted that last week’s market panic and rapid sell-off resulted in a 10% decline in total assets under management , which now sits at $32.3 billion.Outflows were witnessed in a majority of jurisdictions tracked, with Canada accounting for the bulk of redemptions as $35.9 million flowed out of these products, followed by $11 million worth of outflows from German ETPs.Switzerland was one of two countries to record inflows, with $3.
Butterfill noted that “blockchain equities” were also affected by the negative sentiment and saw $6 million worth of outflows last week.
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