Coinshares Weekly Report: The delay in the implementation of the U.S. "Clarity Act" has led to nearly $1 billion in net outflows for digital asset ETPs in a single week.

According to the Coinshares weekly report, global digital asset investment products experienced their first week of net outflows in nearly four weeks, with a total outflow of $952 million for the week.

The report attributes the core reasons for reversing this trend to the negative reactions of the global market to the delay in the implementation of the U.S. Digital Asset Market Clarity Act, the continued fermentation of regulatory uncertainty, and panic concerns over potential sell-offs by large holders.

Specifically, capital outflows are almost entirely concentrated in the U.S. market, which topped last week's net outflow list with as much as $990 million. Although Germany and Canada had inflows of $46.2 million and $15.6 million respectively, slightly offsetting some of the outflow amount, this phenomenon still indicates that the U.S. is experiencing a lag in the implementation of regulatory policies, which is beginning to affect the capital attractiveness in this field.

From the asset performance perspective, Ethereum faced the largest single-week outflow at $555 million. Analysts believe this is directly related to the potential key definition it may face in the pending "Clarity Act" (i.e., whether it is classified as a security), and the uncertainty has further intensified the market's risk-averse sentiment towards this asset. However, from an annual perspective, the total inflow of funds into Ethereum still far exceeds last year's $5.3 billion, amounting to $12.7 billion.

At the same time, Bitcoin also saw an outflow of 460 million USD in a single week, with a year-to-date (YTD) inflow of 27.2 billion USD, which is also lower than the market's optimistic expectation of 41.6 billion USD in inflows year-to-date.

In contrast, Solana and XRP continue to attract funding, recording single-week inflows of $48.5 million and $62.9 million, respectively, indicating that investors are selectively allocating in a regulatory gray environment, turning to assets that they believe may face less regulatory resistance.

Overall, the shift in capital flow indicates that the delay in the United States' regulatory legislation on digital assets has begun to have a direct "crowding out effect" on the domestic market's capital pool.

If the key legal framework cannot be implemented in a timely manner, the trend of capital outflow and investors turning to other jurisdictions may further intensify.

#加密货币ETP # investment trends