Crypto ETPs Bleed $1.7 Billion in a Week: Is the Worst Yet to Come?

Crypto ETPs Bleed: Fifth Straight Week of Losses!

With $1.7 billion leaving the market last week, cryptocurrency exchange-traded products (ETPs) saw heavy selling for the fifth consecutive week. CoinShares stated on March 17 that crypto ETP liquidations surged over the most recent trading week, pushing the total five-week outflows to $6.4 billion after slightly softened withdrawals of $876 million the week before.

Bitcoin ETF Outflows Hit $5.4B as Market Sentiment Turns Bearish

According to CoinShares’ James Butterfill, the current outflow strike has also resulted in outflows for 17 days in a row, which is the longest negative run since CoinShares began keeping track in 2015. He said that year-to-date (YTD) inflows are still positive at $912 million, notwithstanding significant negative sentiment.

Following a $756 million outflow in the first week of March, Bitcoin ETPs experienced a further $978 million outflow during the trading week from March 10 to March 14. By March 14, there were only $612 million in YTD inflows after the five-week selling streak reduced total BTC ETP outflows to $5.4 billion.

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