Crypto ETPs See Fifth Consecutive Week of Outflows: $1.7 Billion Leaves the Market

Cryptocurrency exchange-traded products (ETPs) continued to experience a significant selling wave last week, marking the fifth consecutive week of outflows, with $1.7 billion exiting the market.

While outflows slowed slightly to $876 million the previous week, crypto ETP liquidations accelerated in the past week, bringing the total five-week outflows to $6.4 billion, CoinShares reported on March 17.

The ongoing outflows also marked the longest negative streak since CoinShares began tracking records in 2015, reaching its 17th day, CoinShares’ James Butterfill wrote.

Despite the notable negative sentiment, year-to-date (YTD) inflows remain positive at $912 million, he added.

Bitcoin ETPs See $5.4 Billion in Outflows Over 5 Weeks, XRP ETPs Continue Positive Inflows

After $756 million in outflows during the first week of March, Bitcoin ETPs saw another $978 million in outflows during the week of March 10-14.

The five-week sell-off brought total BTC ETP outflows to $5.4 billion, leaving just $612 million in YTD inflows as of March 14.

Both Ether and Solana ETPs saw outflows of $175 million and $2.2 million, respectively, while XRP ETPs continued to defy the trend with $1.8 million in inflows.

21Shares Records Largest Outflows in Europe, U.S. Markets See High Liquidation

According to CoinShares data, European crypto ETP provider 21Shares recorded the largest outflows among issuers last week, totaling $534 million.

Despite significant selling in Europe, the United States still saw the largest outflows among the analyzed regions, with $1.2 billion exiting its crypto ETP market.

BlackRock, the largest crypto asset holder among all issuers, experienced $401 million in outflows, pushing month-to-date outflows to $594 million.

ProShares was the only major issuer to maintain positive inflows, with $2 million in MTD (month-to-date) inflows. ProShares, along with firms like BlackRock and ARK Invest, remained among the three major issuers continuing YTD (year-to-date) inflows as of March 14.

Additionally, as Butterfill noted, Binance nearly lost all its assets under management due to an exit by a seed investor, leaving only $15 million remaining.

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