Crypto Funds See $6.4B Outflows Over Five Weeks; XRP Defies Trend Amid $978M Bitcoin Withdrawals

Digital asset investment products, including Bitcoin and Ethereum exchange-traded funds (ETFs), recorded their fifth consecutive week of outflows, totaling $1.7 billion last week. This brings the cumulative outflows over the past five weeks to $6.4 billion, marking the longest streak of net outflows since 2015. U.S. investors accounted for 93% of the outflows.

Bitcoin ETFs alone saw $978 million in outflows last week, contributing to a five-week total of $5.4 billion in withdrawals. Notably, $371 million was withdrawn in a single session on March 11. Since February 6, Bitcoin ETFs have shed $4.58 billion. Major providers such as BlackRock, Grayscale, Fidelity, and Ark 21Shares experienced significant withdrawals. Binance's assets under management (AuM) dropped to $15 million following a seed investor's exit.

Ethereum investment products recorded $175 million in outflows last week, while Solana saw $2.2 million in withdrawals. Blockchain equity funds also suffered, with $40 million exiting the sector. The total assets under management (AuM) for digital asset investment products have declined by $48 billion to $133 billion. This downturn coincides with 17 consecutive days of outflows, the longest streak recorded for crypto investment products.

Despite the broader trend, XRP investment products attracted $1.8 million in inflows last week, bringing its monthly total to $7.4 million and its year-to-date inflows to $212 million. XRP's total assets under management reached $1.2 billion, driven by factors such as a potential resolution to Ripple's legal dispute with the SEC and speculation about its classification as a commodity.

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