BEARISH 📉 : Crypto funds face $173M outflows for fourth consecutive week

Crypto exchange-traded products (ETPs) experienced a fourth consecutive week of outflows, totaling $173 million for the week. This trend is driven by US market weakness and negative market sentiment.

Key Insights

  • Total four-week outflows reached $3.47 billion, with notable outflows over $1.7 billion in the last two weeks of January.
  • Investment products saw $187 million and $173 million outflows in the past two weeks.
  • Trading volumes dropped to $27 billion from a previous $63 billion high.
  • The US recorded $403 million in outflows, while other regions saw $230 million in inflows.
  • Germany, Canada, and Switzerland had strong performance with inflows of $114.8 million, $46.3 million, and $36.8 million, respectively.

Altcoins Performance

  • Bitcoin saw $133 million in negative net flows, partly due to BlackRock IBIT’s $235 million outflow.
  • Short Bitcoin investment products had $15.4 million outflows, a pattern typically seen near market lows.
  • Ethereum faced $85.1 million in outflows, led by BlackRock ETHA’s $112.7 million.
  • XRP-based funds led altcoin inflows with $33.4 million, following a $63.1 million positive flow the previous week.
  • Solana ETPs attracted $31 million in inflows, up from $8.2 million the prior week.

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This shift indicates selective resilience among certain altcoins despite broader market challenges.