Outflows from Crypto ETPs Reach $1.7B

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Cryptocurrency exchange-traded products (ETPs) experienced significant selling last week, marking the fifth consecutive week of outflows, totaling $1.7 billion exiting the market.

Following milder outflows of $876 million the prior week, crypto ETP liquidations intensified, bringing the five-week total to $6.4 billion, as reported by CoinShares on March 17.

This marks the 17th consecutive day of outflows, the longest negative streak since CoinShares began tracking in 2015, noted James Butterfill of CoinShares.

Despite the negative sentiment, year-to-date (YTD) inflows remain positive at $912 million.

Bitcoin ETPs faced increased selling from March 10 to March 14, with outflows reaching $978 million, following $756 million in the first week of March.