Crypto Market: Outflows Exceed $6.4B Over Five Weeks

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by Giorgi Kostiuk

2 years ago

According to the latest CoinShares report, cryptocurrency investment products continue to see significant investor withdrawals, marking the longest period since tracking began in 2015.

Bitcoin Outflows

Bitcoin investment products suffered the largest outflows, with $978 Million leaving BTC-focused funds last week. The five-week total outflow reached $5.4 Billion. Despite this, Bitcoin products maintain the largest position in the crypto investment sector, with $113.47 Billion in assets under management.

Regional Withdrawal Trends

The geographical distribution of crypto outflows shows a significant concentration. The United States accounted for the majority of the withdrawals, pulling $1.16 Billion from digital asset products last week, making up 93% of all outflows during this negative streak. Switzerland followed with $527.7 Million in outflows.

Ethereum and Other Altcoins

Ethereum experienced the second-largest outflows with $176 Million, maintaining $9.95 Billion in assets under management. Solana-focused products saw $2.2 Million in outflows, maintaining their position with $1.3 Billion in assets. Some altcoins, such as XRP, attracted positive investor interest, recording $1.8 Million in inflows.

Despite extensive outflows, certain cryptocurrency products and markets exhibit resilience. The CoinShares report highlights significant shifts and allocates trends on a global scale.

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