The most common and most likely answer to this crossword clue is the 8 letter word VESTIGES
I've seen this crossword clue in Financial Times
V
E
S
T
I
G
E
S
Buddy explains!
The straight part
We know that "Traces" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case traces = vestiges.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does VESTIGES mean?
VESTIGES noun- The mark of the foot left on the earth.
- (by extension) A faint mark or visible sign left by something which is lost, or has perished, or is no longer present.
- A vestigial organ; a non-functional organ or body part that was once functional in an evolutionary ancestor.