Digital asset investment products saw $110 million in outflows for the week ended March 11 after reaching the highest inflows in three months the week before, said CoinShares.

Broken down by asset class, $69.9 million exited bitcoin (BTC) funds, $50.6 million exited ether (ETH), and flows for other cryptos were modestly positive.
Interestingly, outflows were centered around one particular fund, the Purpose Bitcoin ETF (BTCC), which saw a net $114.4 million pulled. Speaking with CoinDesk, Purpose Vice President Josh Bubar took note of the huge trading volume on his company’s platform, and the nature of its spot exchange-traded fund. As for last week’s big outflow, Purpose declined to comment on any specific weekly action.
Notably, the week ended March 4 saw overall net inflows of $126.8 million, with the Purpose fund receiving a net $130.3 million in new cash. CoinShares Physical, 3IQ and Proshares all saw minor inflows last week, balancing out some of the outflows from Purpose Bitcoin ETF, CoinShares XBT, and 21 Shares.
Despite outflows in digital asset funds that directly invest in cryptocurrencies, investment products focusing on blockchain-related stocks remained very popular, said CoinShares, with inflows of $4 million last week.

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Crypto Funds See Their First Outflows in 7 Weeks: CoinShares

Both bitcoin and ether vehicles saw a sizable exit of money, according to the report.

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