Global crypto ETP outflows extend to fourth week as $3.7 billion exits in past month: CoinShares

Global crypto investment products issued by the likes of BlackRock, Fidelity, and Bitwise have logged a fourth consecutive week of outflows, with $173 million pulled last week and $3.74 billion withdrawn over the past four weeks, according to the latest data from asset manager CoinShares.

The continued redemptions have come despite a deceleration from the $1.7 billion weekly outflows seen earlier in the month and the $187 million recorded the prior week.

James Butterfill, CoinShares’ head of research, said the latest figures suggest selling pressure has moderated but not reversed, extending what is now a month-long retrenchment in crypto fund flows.

Trading activity also cooled notably, per the report. Exchange-traded product volumes fell to $27 billion from a record $63 billion the previous week, suggesting speculative intensity has faded alongside the pullback in flows.

"The week began on a more positive note, with inflows of $575 million, followed by outflows of $853 million, likely driven by further price weakness," Butterfill wrote. He added that "sentiment improved slightly on Friday following weaker than expected CPI data, with inflows of $105 million."

Outflows cluster in the US

Regional data underscored a sharp divergence in sentiment. Digital asset funds based in the United States accounted for $403 million in weekly outflows, while other regions collectively posted $230 million in inflows. Germany led with $115 million, followed by Canada at $46.3 million and Switzerland at $36.8 million, indicating demand has shifted overseas even as U.S. investors pared exposure.

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Bitcoin investment products absorbed the largest share of redemptions at $133 million as well. Short-bitcoin products also saw outflows, totaling $15.4 million over the past two weeks — a pattern CoinShares noted is often observed near market lows. Ethereum funds recorded $85.1 million in outflows, while smaller products such as Hyperliquid shed $1 million.

In contrast, selective altcoins continued to draw capital. XRP led with $33.4 million in inflows, followed by Solana at $31 million and Chainlink at $1.1 million, signaling pockets of resilience amid broader caution.

The flow data have unfolded against a subdued price backdrop. Bitcoin has slipped nearly 2% over the past week and remains below the $70,000 threshold, while ether continues to trade under $2,000 after two weeks of heavy cumulative outflows, according to The Block’s price page.

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