##  [# Largest Bitcoin Fund Outflows On Record](/sections/bitcoin-crypto/largest-bitcoin-fund-outflows-record) 

 

# Largest Bitcoin Fund Outflows On Record

 

 

All other digital asset investment products continued to see inflows.



 

 

 

 

 [![JamesButterfill310x310](/sites/default/files/styles/author_image_icon/public/2023-08/JamesButterfill310x310.png?itok=uNqgiAyR)](/contributors/james-butterfill) 

[By James Butterfill](/contributors/james-butterfill)

 May 17, 2021

 Edited by: James Butterfill

 

 

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**Takeaways**

- Outflows were solely from Bitcoin investment products which totaled US$98m or 0.2% of total assets under management. While small, this marks the largest outflow we have recorded.
- All other digital asset investment products continued to see inflows which totaled US$48m last week. With the data implying that investors have been diversifying out of Bitcoin and into altcoin investment products.
- Ethereum continued to see inflows totalling US$27m last week. The month of May marked the first time ever that there has been more investment product trading volumes in Ethereum relative to Bitcoin.

![Weekly Crypto Asset Flows](/sites/default/files/images/Fig1_CoinShares2.jpg)

![Flows by Provider](/sites/default/files/images/Fig2_CoinShares2.jpg)

![Flows by Assets](/sites/default/files/images/Fig3_CoinShares2.jpg)

Digital assets investment products saw net outflows of US$50m last week, the first outflows since October 2020 and the largest since May 2019. Historical data implies that outflows of this nature have not marked pivotal points in sentiment change for digital assets.

The outflows were solely from Bitcoin investment products which totaled US$98m or 0.2% of total assets under management. While small, this marks the largest outflow we have recorded, with the second largest at US$19m in May 2019.

All other digital asset investment products continued to see inflows which totaled US$48m last week, with the data implying that investors have been diversifying out of Bitcoin and into altcoin investment products.

Ethereum continued to see inflows totalling US$27m last week. Digital asset investment products saw Ethereum trading volumes being the largest ever, trading a total of US$4.1bn for the week. The month of May marked the first time ever that there has been more investment product trading volumes in Ethereum relative to Bitcoin which saw trading volumes of US$3.1bn last week.

We also saw inflows into other digital assets, the most popular being Cardano and Polka dot, with inflows of US$6m and US$3.3m, respectively.

[![Weekly Crypto Asset Flows Institution](/sites/default/files/images/Fig4_CoinShares2.jpg)](/sites/default/files/images/Fig4_CoinShares2_b.jpg)

(For a larger view, click on the image above)



[![Weekly Crypto Asset Flows by Asset](/sites/default/files/images/Fig5_CoinShares2.jpg)](/sites/default/files/images/Fig5_CoinShares2_b.jpg)

(For a larger view, click on the image above)



[![Digital Asset ETP & Mutual fund Net New Assets](/sites/default/files/images/Fig6_CoinShares2.jpg)](/sites/default/files/images/Fig6_CoinShares2_b.jpg)

(For a larger view, click on the image above)



[![Crypto Asset Fund Flows](/sites/default/files/images/Fig7_CoinShares2.jpg)](/sites/default/files/images/Fig7_CoinShares2_b.jpg)

(For a larger view, click on the image above)



[![Assets Under Management](/sites/default/files/images/Fig8_CoinShares2.jpg)](/sites/default/files/images/Fig8_CoinShares2_b.jpg)

(For a larger view, click on the image above)



[![Bitcoin ETF & Mutual Fund Turnover as % Total Bitcoin](/sites/default/files/images/Fig9_CoinShares2.jpg)](/sites/default/files/images/Fig9_CoinShares2_b.jpg)

(For a larger view, click on the image above)

*Contact James Butterfill at [research@coinshares.com](mailto:research@coinshares.com "Follow link")*





 

 

 [ James Butterfill Head of Research and Investment Strategy ](/contributors/james-butterfill) 

 

 

  James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an…   [View Bio](/contributors/james-butterfill)

 



 

 


 Related Topics  [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Crypto](http://www.etf.com/topics/cryptocurrency)