Fifth week of losses in crypto investment products sees $255M withdrawals Fifth week of losses in crypto investment products sees $255M withdrawals
This marked the largest weekly outflow, which represents 1% of the market, while Bitcoin-based products saw $224 million in outflows.
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Updated: Mar. 13, 2023 at 4:01 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Digital asset-based investment products saw $255 million in outflows during the week of Mar. 6 – 12, marking the fifth consecutive week of losses, according to CoinShares’ weekly report.
The amount also marks the most significant single weekly outflow on record, which currently accounts for 1% of the whole market, as CoinShares’ data indicates. During the week of Mar. 6 – 12, the total assets under management (AuM) recorded a 10% decline, which “wiped out the inflows seen this year,” according to the report.
Flows by asset
Bitcoin (BTC) – based investment products recorded the largest outflow last week with $243.5 million outflows, accounting for over 95% of the total flows recorded during the week.
Ethereum (ETH) followed BTC by recording the second-highest amount at $11 million. Even though they have recorded inflows over the past few weeks, Short-BTC products lost $1.2 million in outflows and placed third in the ranking.
Litecoin (LTC) and Tron (TRX) also recorded 300,000 outflows each. On the other hand, Solana (SOL), Ripple (XRP), and Polygon (MATIC) ended the week by growing 400,000, 300,000, and 100,000, respectively.
Flow by provider
Looking at the flow of the funds based on the providers, 3iQ emerges as the institution that recorded the highest amount of outflows by recording $129.4 million.
Coinshares physical and Coinshares XBT lost a combined $12.8 million, while 21Shares recorded $9.2 million in outflows. Purpose and other institutions also recorded 400,000 and $23.4 million in outflows last week.
On the other hand, ProShares emerged as the only institution that recorded inflows and grew by $10.7 million within seven days.
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Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
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