Crypto Fund Outflows Hit Record Weekly Level

The outflows rose for a fifth consecutive week, according to a CoinShares report.

AccessTimeIconMar 13, 2023 at 5:57 p.m. UTC
Updated Mar 13, 2023 at 6:22 p.m. UTC

Digital asset investment product outflows reached a record weekly level, according to a report by CoinShares.

The digital asset investment firm said that outflows increased for a fifth, consecutive week and totaled $255 million, representing 1% of total assets under management (AUM). Bitcoin was the primary focus for outflows, with some $244 million in outflows.

“While the outflows are the largest on record, they aren’t when expressed as a percentage of total assets under management, that record was on May 2019,” the report said. A full $52 million of outflows that May represented 1.9% of AUM, according to CoinShares.

This comes as the crypto market has suffered a month of uncertainty with crypto-friendly bank Silvergate collapsing and investors concern over the U.S. banking sector’s health.

The report noted that the outflows have wiped out all of the inflows from earlier this year, with outflows totaling $82 million year to date.

UPDATE (March 13, 2023 18:30 UTC): Clarifies the $52 million of outflows was in May 2019.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.