Cryptocurrency traders withdrew $ 2 billion from the crypto market in just a week

From November 10 to November 15, investors withdrew $ 2 billion from cryptocurrency exchange-traded products (ETPs), the largest weekly outflow since February 2024, according to a report by analyst firm CoinShares. In total, $ 3.2 billion has been withdrawn from crypto funds over the past three weeks, and the volume of assets under management has decreased by 27% - from $ 264 billion to $ 191 billion.

The largest outflows were recorded in the United States — $ 1.97 billion. Investors withdrew $ 39.9 million in Switzerland and $ 12.3 million in Hong Kong. At the same time, Germany was the only country with a positive result: investors invested $ 13.2 million, viewing the market decline as an opportunity to buy assets at reduced prices. CoinShares analysts explain the overall negative dynamics by uncertainty in monetary policy and active sales by large cryptocurrency holders.

Most funds were withdrawn from bitcoin funds — $ 1.38 billion. Ethereum-based products ETH $3,078.84 Bridged Ether (StarkGate) 0.24% Market capitalization $70.62 million VOL. 24 hours $0.25 billion recorded outflows of $ 689 million. Smaller outflows were observed in Solana SOL $136.19 Binance-Peg SOL 0.36% Market capitalization $0.15 billion VOL. 24 hours $0.14 billion ($ 8.3 million) and XRP XRP $2.09 XRP -0.15% Market capitalization $126.85 billion VOL. 24 hours $66.53 million ($ 15.5 million). Nevertheless, Solana and XRP-based ETFs maintain positive dynamics — since their launch, they have not demonstrated net outflows.

on November 14, Solana-based instruments attracted $ 12.04 million, and XRP funds — $ 243.05 million. In addition, over the past three weeks, investors have invested $ 69 million in multi-asset ETPs covering several cryptocurrencies. Funds that allow opening short positions on bitcoin received $ 18.1 million.

Earlier, from October 31 to November 8, cryptocurrency investment products also saw significant outflows of more than $ 1.17 billion. Thus, November was a period of sharp decline in institutional activity in the crypto market.