Outflows from crypto investment products from March 11 to 17 totaled $95 million, after a record $255 million the week before. Analysts at CoinShares said.
Over the last five weeks, investors withdrew $406 million — equivalent to 1.2% of assets under management.
Thanks to the favorable market conditions, AUM jumped to $33 billion, not seen since the collapse of the cryptocurrency hedge fund Three Arrows Capital in June 2022. The weekly gain was 26%.
Daily trading volume doubled, reaching $2.6 billion.
Withdrawals remained concentrated in bitcoin products. The associated funds lost $113 million ($244 million the previous week). Shorting-enabled structures attracted $34.7 million, versus a $1.2 million outflow in the previous reporting period.
“The outflow contrasted sharply with the broader market and suggests that, in part, this was driven by liquidity needs rather than negative sentiment,” the specialists explained.
Altcoins posted mixed results. Ethereum-based funds saw $12.7 million leave, and asset baskets $5.2 million. XRP-based funds attracted $0.4 million, with Solana, Polygon, and Litecoin drawing $0.2 million each.
In March, CryptoQuant founder Ki Young Ju and analyst rektcapitalnoted the transition of bitcoin into a bullish phase.
Earlier, the founder and CEO of analytics company Messari, Ryan Selkis, predicted the ascent of the leading cryptocurrencyto $100,000 within 12 months.