Altcoin News Daily Official TheBitTimes.com

Crypto asset management giant CoinShares says institutional investors pulled billions of dollars out of crypto last week. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products are enduring their worst run of investor outflows in a decade. “Digital asset investment products saw a 5th consecutive week of outflows, totaling US$1.7bn, bringing the total outflows over this negative funk to US$6.4bn. This also marks the 17th straight day of outflows, the longest negative streak since our records began in 2015. Despite prevailing negative sentiment, year-to-date inflows remain positive at US$912m. Following this price correction and sustained outflows, total assets under management (AuM) have declined by US$48bn.” Source: CoinShares Regionally, the United States provided $1.2 billion in outflows, 93% of all outflows. While Germany provided minor inflows of $8 million, Switzerland also saw outflows of $528 million. Per usual,...

US Spot Ethereum ETFs (exchange-traded funds) recorded $39.21 million net outflows yesterday as Nasdaq ISE, LLC files two notices to withdraw proposals to list options on both spot Bitcoin and Ethereum ETFs. The Grayscale Ethereum Trust (ETHE) was the only fund to register outflows on Aug. 15 after $42.52 million left the ETF, according to data from SosoValue . Spot Ethereum ETFs Record Minimal Flows The Grayscale Ethereum Mini Trust (ETH) recorded zero flows yesterday after achieving moderate net inflows of $2.26 million the previous day. Meanwhile, Fidelity’s FETH saw $2.54 million enter its fund. Similarly, BlackRock’s ETHA recorded $770,350 inflows on the same day. All of the remaining ETFs recorded no flows. Yesterday’s outflows brought an end to a three-day positive streak. The total trading activity across the funds did, however, increase to $240.58 million. This uptick in activity follows the $155.91 volume recorded on Aug. 14 and the $190.76 million on A...

Some Multichain contracts on Ethereum suffered withdrawals of more than half of their deposits, causing on-chain sleuths to fear an exploit is underway. Abnormally large outflows from the Multichain MPC bridge platform on July 6 have sparked fears that an exploit could be underway. Over $102 million worth of crypto has been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver. Multi chain likely hacked. Exit all multi chain assets. Good idea to revoke approvals to multi chain bridge if you had any — Curve Finance (@CurveFinance) July 6, 2023 On July 6, 7,214 Wrapped Ether (WETH) tokens (worth $13.6 million), 1,024 Wrapped Bitcoin (WBTC) (worth $31 million) and $58 million worth of US Dollar Coin (USDC) were withdrawn from the Fantom bridge’s Ethereum smart contract, with a total of approximately $102 million in cryptocurrency withdrawn. July 6 withdrawals from the Multichain Fantom Bridge contract o...