Share this article
Digital Asset Outflows Continue for 6th Week Despite Bitcoin Price Surge
The data may reflect investors’ need for liquidity during the banking crisis, a CoinShares report says.
Updated Mar 21, 2023, 2:50 p.m. Published Mar 20, 2023, 6:23 p.m.
Despite bitcoin’s price surging, digital asset investment products totaled net outflows for a sixth consecutive week last week, a report by CoinShares shows.
Digital asset net outflows totaled $95 million for the week ending March 17.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Outflows in digital asset investment products for the last six weeks totaled $424 million, the digital asset investment group found.
Bitcoin, ether and multi-asset outflows totaled a combined $130 million, although bitcoin also had $35 million in inflows. Those inflows were short bitcoin, meaning that investors were betting on bitcoin’s price falling.
Overall, the data may reflect a need for liquidity among investors, according to CoinShares. Meanwhile, the largest cryptocurrency by market value’s price has surged from a low of about $19,400 in early March to its current level near $28,000. Over the past week, bitcoin has risen almost 15%.
“It is evident this sentiment is contrarian relative to the rest of the crypto market,” the CoinShares report said. “It may be driven, in part, by the need for liquidity during this banking crisis, a similar situation was seen when the [COVID-19] panic first hit in March 2020.”
After having outflows of $13 million over the past week, Ethereum witnessed inflows totaling $1.3 million.
The positive Ethereum sentiment that led to investors pumping money into ether-related funds reinforces the narrative that the need for liquidity drove bitcoin outflows, according to CoinShares.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
