Digital asset investment products shed US$288 million last week in what CoinShares reported as the fifth straight week of outflows, pushing the cumulative five-week total to US$4.0 billion while trading volumes collapsed to US$17 billion — the lowest since Jul. 2025.
What Happened: Crypto Fund Exodus
The weekly report from CoinShares showed a sharp regional split in investor behavior. United States-based investors pulled US$347 million from digital asset funds, accounting for more than the entire net outflow figure.
Investors in Europe and Canada moved in the opposite direction, treating recent price weakness as a buying opportunity. Switzerland led with US$19.5 million in inflows, followed by Canada at US$16.8 million and Germany at US$16.2 million, bringing total non-U.S. inflows to US$59 million.
Bitcoin (BTC) bore the brunt of outflows at US$215 million. Short-Bitcoin products drew US$5.5 million — the largest inflows of any single asset category — signaling growing bearish positioning among some fund investors.
Ethereum (ETH) lost US$36.5 million, the second-largest outflows after Bitcoin, while multi-asset products shed US$32.5 million and Tron (TRX) saw US$18.9 million in redemptions. Minor inflows into XRP (XRP) at US$3.5 million, Solana (SOL) at US$3.3 million and Chainlink (LINK) at US$1.2 million were not enough to offset the broader altcoin losses.
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Why It Matters: Fading Momentum
The five-week streak marks a notable shift in sentiment for crypto fund products, though the US$4.0 billion in cumulative outflows still trails the US$6 billion recorded over the same period last year. The drop in ETP trading volumes to their lowest point since Jul. 2025 suggests waning participation beyond just directional selling.
The regional divide is telling. U.S. investors, who dominate global digital asset fund flows, are retreating, while European and Canadian counterparts are stepping in at lower prices — a pattern that could shape how the market absorbs further volatility.
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