Crypto investment products experienced continued selling last week as investor sentiment weakened, marking a second consecutive week of outflows, CoinShares said Monday. Exchange-traded crypto products (ETPs) saw $1.7 billion of net withdrawals for the week, bringing two-week outflows to $3.43 billion and tipping year-to-date flows into negative territory by roughly $1 billion.
James Butterfill, CoinShares’ head of research, pointed to several drivers behind the redemptions: the appointment of a more hawkish US Federal Reserve Chair, ongoing large holder selling aligned with the market’s four-year cycle, and elevated geopolitical uncertainty.
Total assets under management in crypto funds fell to $165.8 billion, a decline of about $73 billion since October 2025. Bitcoin-focused products accounted for the lion’s share of redemptions, with $1.32 billion withdrawn last week and $733 million pulled year-to-date. Ether funds posted $308 million in weekly outflows and $383 million in net outflows so far this year. Solana and XRP products recorded outflows of $31.7 million and $43.7 million, respectively. In contrast, short-Bitcoin ETPs attracted $14.5 million, reflecting bearish positioning among some investors.
By issuer, BlackRock’s iShares led outflows at roughly $1.2 billion. Grayscale and Fidelity reported about $300 million and $197 million of redemptions, respectively. On the inflow side, ProFunds Group and Volatility Shares drew approximately $139 million and $61 million. CoinShares also highlighted Hyperliquid (HYPE) as an outlier, benefiting from activity in tokenized precious metals.
The reported outflows came before a sharp weekend sell-off that pushed Bitcoin below $75,000 on Sunday. The Crypto Fear & Greed Index sat near 14, labeled ‘Extreme Fear,’ which suggests funds could face continued pressure unless markets recover. At the time CoinShares published the data, CoinGecko showed Bitcoin trading around $77,610, down about 1.7% over the prior 24 hours.
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