Crypto ETPs see $1.7B in outflows, longest streak since 2015

Cryptocurrency exchange-traded products (ETPs) continued seeing monolithic selling past week, signaling the 5th week of outflows successful a row, with $1.7 cardinal leaving the market. 

After seeing somewhat softened outflows of $876 cardinal successful the erstwhile week, crypto ETP liquidations accelerated during the past trading week, bringing the full five-week outflows to $6.4 billion, CoinShares reported connected March 17.

The ongoing outflow onslaught has besides marked the 17th consecutive time of outflows, the longest antagonistic streak since CoinShares started records successful 2015, CoinShares’ James Butterfill wrote.

Despite notable antagonistic sentiment, year-to-date (YTD) inflows stay affirmative astatine $912 million, helium added.

Bitcoin ETP outflows: $5.4 cardinal successful 5 weeks

After seeing $756 cardinal outflows successful the archetypal week of March, Bitcoin (BTC) ETPs saw accrued selling successful the trading week from March 10 to March 14, seeing a further $978 cardinal outflows.

The five-week selling streak brought full BTC ETP outflows to $5.4 billion, leaving conscionable $612 cardinal of YTD inflows by March 14.

Flows by plus (in millions of US dollars). Source: CoinShares

Both Ether (ETH) and Solana (SOL) ETPs saw $175 cardinal and $2.2 cardinal outflows, respectively. XRP (XRP) ETPs continued to spell against the trend, seeing a further $1.8 cardinal successful inflows.

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.

Magazine: XRP to $4 next? SBF’s parents question Trump pardon, and more: Hodler’s Digest, Jan. 26 – Feb. 1