Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Crypto investment products see third consecutive week of outflows totaling $435 million

Crypto investment products see third consecutive week of outflows totaling $435 million

The BlockThe Block2024/04/29 12:46
By:James Hunt

Crypto investment products witnessed a further $435 million in net outflows globally last week as incumbent ETF issuers continue to see withdrawals.The outflows are the largest since a record of nearly $1 billion during the third week of March as bitcoin fell from its latest all-time high.

Crypto investment products see third consecutive week of outflows totaling $435 million image 0Global crypto investment products at asset managers such as Ark Invest, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered a third-consecutive week of net outflows totaling $435 million last week, according to CoinShares' latest report.

The figure is the largest since a record of nearly $1 billion in outflows was recorded during one week last month as bitcoin corrected after reaching its latest all-time high of $73,836 on March 14.

Weekly crypto asset flows. Images: CoinShares .

“Trading volumes in exchange-traded products fell to $11.8 billion last week compared to $18 billion the prior week, while bitcoin prices fell by 6%,” CoinShares Head of Research James Butterfill added . 

BTC -1.77% /USD price chart. Image: The Block/TradingView .

Grayscale’s outflows decelerate but so do inflows from new issuers

Most of the outflows were from the incumbent Grayscale, which converted its Bitcoin Trust product into a spot bitcoin exchange-traded fund in January. Grayscale’s GBTC contributed $454.1 million in outflows last week alone. However, this was the lowest level for nine weeks, Butterfill pointed out.

“While Grayscale’s outflows continue to decelerate, we have also seen a deceleration in inflows from new issuers, which saw only $126 million in inflows last week, compared to $254 million the week prior,” Butterfill added.

BlackRock’s IBIT spot bitcoin ETF witnessed three days of zero flows last week as its 71-day inflow streak — putting it in the top ten ETFs of all time — came to an end. Fidelity’s FBTC and Valkyrie’s BRRR also witnessed their first daily outflows last week.

Overall inflows for the spot bitcoin ETFs have slowed considerably since peaking at a net daily inflow of $1.05 billion on March 12, according to The Block’s data dashboard .

 

US-based bitcoin products continue to dominate

Regionally, the U.S.-based crypto investment funds continued to dominate, representing $388 million in weekly outflows. However, year-to-date inflows remain at a record $13.6 billion, Butterfill noted. Germany and Canada-based products saw outflows of $16 million and $32 million, respectively, while Switzerland and Brazil bucked the trend, registering $5 million and $4 million worth of inflows.

Bitcoin products witnessed the most outflows last week, totaling $423 million, followed by $38 million from ether-based funds. However, altcoin investment products, such as Solana, Litecoin and Chainlink funds, saw inflows of $4 million, $3 million and $2.8 million, respectively.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Mars Morning News | Ethereum Fusaka upgrade officially activated; ETH surpasses $3,200

The Ethereum Fusaka upgrade has been activated, enhancing L2 transaction capabilities and reducing fees; BlackRock predicts accelerated institutional adoption of cryptocurrencies; cryptocurrency ETF inflows have reached a 7-week high; Trump nominates crypto-friendly regulatory officials; Malaysia cracks down on illegal Bitcoin mining. Summary generated by Mars AI. The accuracy and completeness of this summary are still undergoing iterative updates.

MarsBit2025/12/04 19:56
Mars Morning News | Ethereum Fusaka upgrade officially activated; ETH surpasses $3,200

Do you think stop-losses can save you? Taleb exposes the biggest misconception: all risks are packed into a single blow-up point.

Nassim Nicholas Taleb's latest paper, "Trading With a Stop," challenges traditional views on stop-loss orders, arguing that stop-losses do not reduce risk but instead compress and concentrate risk into fragile breaking points, altering market behavior patterns. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

MarsBit2025/12/04 19:55
Do you think stop-losses can save you? Taleb exposes the biggest misconception: all risks are packed into a single blow-up point.

With capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?

BlackRock's crypto ETF fee revenue has dropped by 38%, and its ETF business is struggling to escape the cyclical curse of the market.

BlockBeats2025/12/04 19:13
With capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?

Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.

MEETLabs is an innovative lab focused on blockchain technology and the cryptocurrency sector, and also serves as the incubator for MEET48.

BlockBeats2025/12/04 19:11
Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.
© 2025 Bitget