Digital asset investment products experienced sharp withdrawals last week, with total crypto ETP outflows hitting $1.94 billion, marking the fourth consecutive week of negative flows. Fresh data from CoinShares shows combined redemptions now reaching $4.92 billion over the latest four week period, one of the largest loss streaks since 2018.
Despite the broad downturn, XRP emerged as the only major asset to register inflows, attracting $89.3 million in new capital and signaling strong institutional confidence in the asset.
Crypto ETP assets under management currently stand at $167.32 billion, while year to date flows remain positive at $44.43 billion, demonstrating long term investor commitment despite short term volatility.
Bitcoin and Ethereum Lead Market Outflows
Bitcoin products saw the most significant redemptions, totaling $1.27 billion, representing 65 percent of all outflows during the week. The downturn marked one of Bitcoin’s most intense withdrawal periods in 2024, although the asset briefly recovered on Friday with $225 million in inflows.
Ethereum ETPs followed closely with $589 million in weekly outflows, accounting for 30 percent of all redemptions. The second largest asset class suffered proportionally heavier impact, losing 7.3 percent of assets under management before rebounding slightly on Friday with $57.5 million in inflows.
Multi-asset crypto products recorded $35.9 million in weekly exits but remain slightly positive for the month with $9 million in inflows. Year to date performance for the category remains negative at $27 million.
XRP Dominates Altcoin ETP Performance
XRP was the standout performer of the week. While the broader market saw significant withdrawals, XRP investment products recorded $89.3 million in net inflows.
• Month to date inflows: $351 million
• Year to date inflows: $2.32 billion
• Total AUM: $2.23 billion
Other altcoins saw mixed performance:
• Solana: $156.2 million weekly outflows, though year to date remains positive at $3.24 billion.
• Litecoin: $3.3 million in weekly inflows, adding to a positive year to date tally of $18 million.
• Cardano: minimal activity with $0.1 million inflows.
• Sui: $5 million weekly outflows, adding to month to date redemptions of $2.8 million.
United States Dominates Global Redemption Activity
The United States accounted for $1.69 billion of the total weekly outflows, representing 87 percent of global activity. Despite this heavy selling, US crypto ETPs still show strong year to date inflows of $41.19 billion.
Other regions recorded mixed performance:
• Switzerland: $79.7M weekly outflows
• Germany: $118.2M weekly outflows
• Canada: $27.1M weekly outflows
• Sweden: $26.8M weekly outflows
• Hong Kong: $1.9M weekly outflows
• Brazil: $3.5M weekly inflows
• Australia: $2M weekly inflows
Brazil and Australia were the only bright spots, adding modest capital despite global selling pressure.
Provider Level Data Shows Heavy Selling in iShares ETFs
At the provider level, iShares dominated outflows with $1.65 billion, representing 85 percent of total weekly redemptions. Month to date, iShares outflows reached $3.48 billion, although year to date still shows strong inflows at $34.82 billion.
Other provider activity:
• Grayscale: $114M weekly inflows, though to date, remains negative.
• Fidelity: $116M weekly outflows.
• CoinShares Digital Securities: $148M weekly outflows.
• ARK 21Shares: $85M outflows.
• 21Shares AG: $82M outflows.
• ProShares: $46M outflows.
• Bitwise: $5M inflows.
• Others combined: $62M in positive flows.
Despite the overall negative week, select providers such as Grayscale and Bitwise signaled pockets of institutional accumulation.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions
