Crypto ETPs see 4th straight week of outflows, totaling $876M — CoinShares

Cryptocurrency exchange-traded products (ETPs) recorded a fourth straight week of outflows, with $876 million in losses during the past trading week.

After posting record weekly outflows of $2.9 billion last week, crypto ETPs continued their downward trend, bringing the four-week total outflows to $4.75 billion, CoinShares reported on March 10.

While the pace of outflows slowed, investor sentiment remained bearish, according to James Butterfill, head of research at CoinShares.

The analyst also suggested that the market has shown signs of capitulation.

Bitcoin (BTC) ETPs were the primary driver of outflows, accounting for $756 million, or 85% of last week’s total. Short-Bitcoin ETPs also saw outflows of $19.8 million, the most since December 2024. 

With cumulative outflows reaching $4.75 billion over the past four weeks, the year-to-date inflows dropped to $2.6 billion.

Weekly crypto ETP flows since late 2024. Source: CoinShares

Total assets under management (AUM) declined by $39 billion to $142 billion, the lowest point since mid-November 2024, driven by both negative price movements and sustained outflows, Butterfill noted.

This bearish sentiment was also observed among a wide range of altcoins last week, with Ether (ETH) ETPs seeing $89 million of outflows.

Tron (TRX) and Aave (AAVE) were also among the most notable ETP losers, seeing $32 million and $2.4 million in outflows, respectively, according to the report.

Flows by asset (in millions of US dollars). Source: CoinShares

Conversely, Solana (SOL), XRP (XRP) and Sui (SUI) continued to see inflows totaling $16.4 million, $5.6 million and $2.7 million, respectively, Butterfill wrote.

Among crypto ETP issuers, Fidelity Investments saw the largest outflows last week at $201 million, bringing its YTD outflows to $159 million.

BlackRock’s iShares exchange-traded funds (ETF) were the second largest loser, with weekly outflows amounting to $193 million.

Related: US Bitcoin reserve prompts $370 million in ETF outflows: Farside

Despite seeing significant selling in the past few weeks, BlackRock is still the biggest crypto holder among other issuers, with $52.8 billion in AuM and $3 billion in YTD outflows.

Flows by issuer (in millions of US dollars). Source: CoinShares

Other major losses in the United States were seen by ARK Invest and 21Shares, which recorded $164 million in outflows, with YTD flows still standing positive at $110 million.

ProShares ETFs were again among the few US crypto ETFs that did not see outflows, recording $15 million of inflows.

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