Digital asset investment products have faced a historic stretch of outflows, totaling $6.4 billion over the past five weeks. Bitcoin and ether bore the brunt, while XRP stood out with continued inflows.
Coinshares: Crypto Funds Bleed $6.4 Billion in 5 Weeks as Outflows Break Records
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Bitcoin Funds Hit Hard as Historic Outflow Streak Reaches 17 Days
Crypto investment products recorded its worst outflow streak on record with digital asset funds seeing another $1.7 billion exit last week, extending a five-week sell-off that now totals $6.4 billion.
According to Coinshares, the current run marks 17 consecutive days of net outflows, an unprecedented stretch since records began in 2015. Despite the downturn, year-to-date flows remain in the green with $912 million in net inflows. Still, the recent correction has wiped out $48 billion from total assets under management (AuM) across crypto investment products.
The U.S. remains the epicenter of this pullback, contributing $1.16 billion, approximately 93% of last week’s total outflows. Switzerland also saw heavy losses of $528 million. However, Germany bucked the broader trend slightly, bringing in $8 million in inflows.
Bitcoin products were hit hardest, with $978 million in weekly outflows, adding to a five-week total of $5.4 billion. Short- bitcoin positions also declined, shedding $3.6 million.
Ethereum and Solana investment products weren’t spared, posting $175 million and $2.2 million in outflows, respectively. Notably, XRP continued to attract capital, bringing in $1.8 million in fresh inflows. Blockchain equities also struggled, losing $40 million over the week.
While investor sentiment remains cautious, assets like XRP are showing resilience amid the turbulence.
