CoinShares reported Monday that crypto investment products experienced their first weekly outflow in five weeks, with $414 million leaving the market as investors reacted to rising inflation worries and heightened tensions in the Middle East.
The firm said the shift in sentiment followed a change in expectations for the June Federal Open Market Committee meeting, as markets moved from pricing in rate cuts to expecting rate hikes—creating a tougher macro backdrop for risk assets and prompting a move to risk-off positioning.
Total assets under management in crypto products fell to $129 billion, returning to levels last seen in early February and broadly comparable to April 2025, during the initial phase of former President Trump’s tariffs, CoinShares head of research James Butterfill noted.
By asset: Ether led outflows with $222 million withdrawn during the week, leaving its year-to-date flows at a net negative $273 million—the weakest among tracked assets. Bitcoin saw $194 million in weekly withdrawals but remains positive year-to-date with $964 million in net inflows. Short-Bitcoin products attracted $4 million, suggesting some investors are hedging for further downside.
Other notable flows included Solana with $12.3 million in outflows and XRP drawing $15.8 million in fresh capital.
Crypto exchange-traded products showed similar risk-off behavior. Spot Bitcoin ETFs ended a four-week inflow streak with $296 million in net outflows after earlier strong inflows that had exceeded $2.2 billion for the month. Spot Ether ETFs recorded $206.6 million in outflows for a second consecutive week.
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