Cryptocurrency exchange-traded products (ETPs) have faced another round of outflows, totaling $876 million for the week ending March 10.
Cryptocurrency exchange-traded products (ETPs) have faced another round of outflows, totaling $876 million for the week ending March 10. This marks the fourth consecutive week of outflows, following a record $2.9 billion in outflows the previous week. Over the last four weeks, the total outflows have reached $4.75 billion. As a result, the year-to-date inflows have dropped to $2.6 billion, showing a notable decrease. Despite a slight slowdown in the pace of outflows, the general sentiment remains negative, with analysts suggesting the market may be nearing a point of capitulation.
Bitcoin ETPs were the main driver of the outflows, accounting for $756 million, or 86% of the total outflows. Short-Bitcoin ETPs also saw significant losses, with $19.8 million in outflows, the most since December 2024. These withdrawals have resulted in a decrease in the total assets under management (AUM) by $39 billion, bringing it down to $142 billion, the lowest since mid-November 2024. The decline in AUM has been attributed to both falling asset prices and sustained outflows.
Altcoins also experienced significant outflows. Ethereum ETPs saw $89 million in outflows, and other altcoins, including Tron and Aave, experienced losses of $32 million and $2.4 million, respectively. However, some assets saw inflows despite the overall negative trend. Solana, XRP, and Sui ETPs attracted inflows, with $16.4 million, $5.6 million, and $2.7 million, respectively.
Among the major crypto ETP issuers, Fidelity Investments saw the largest outflows, with $201 million in the past week, bringing its year-to-date outflows to $159 million. BlackRock’s iShares ETFs were the second-largest losers, with $193 million in outflows. Despite the losses, BlackRock remains the largest crypto holder, with $52.8 billion in AUM and $3 billion in year-to-date outflows. Other notable losses were seen by ARK Invest and 21Shares, which together recorded $164 million in outflows, although their year-to-date flows still stand at a positive $110 million.
ProShares was one of the few ETP issuers to see inflows, with $15 million in the past week. While the broader trend continues to show investor caution, with many withdrawing funds, a few assets like Solana, XRP, and Sui continue to attract investment. The ongoing outflows and negative sentiment indicate that market participants are cautious as the broader crypto market continues to face challenges.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
