Crypto investment products have seen a trend of outflows for five consecutive weeks, as $54 million exited these products in the past week, according to the latest CoinShares weekly report. This extends the total outflow over the last nine weeks to $455 million, underscoring the prevailing bearish sentiment in the market.
US top outflows
CoinShares noted that the United States dominates the outflows, contributing around 77% of these exits due to the seemingly unending regulatory clampdown on crypto-related businesses within the region.
U.S. financial regulatory bodies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have initiated enforcement actions against various crypto entities such as Binance and Coinbase, as well as decentralized finance protocols like Opyn and Deridex.
These regulatory measures have created a challenging environment for crypto companies operating in the United States, as the regulatory landscape remains
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