Crypto ETPs post fourth straight week of redemptions as U.S.-led weakness drives $173 million in weekly outflows; four-week total reaches $3.47 billion, while XRP and Solana buck the trend with fresh inflows.
Four Weeks of Outflows as Momentum Cools
Crypto exchange-traded products (ETPs) recorded a fourth consecutive week of net outflows, with $173 million leaving funds in the latest period, according to CoinShares’ weekly report by head of research James Butterfill. The four-week total now stands at $3.47 billion.
After two heavy weeks in late January—each with more than $1.7 billion in net redemptions, the largest since November 2025—recent data suggest selling pressure has moderated but not reversed. Intra-week flows reflected ongoing volatility: inflows of $575 million early in the week were followed by $853 million in outflows, before a modest improvement on Friday with $105 million of inflows after weaker-than-expected CPI data.
Trading activity also cooled sharply, with ETP volumes sliding to $27 billion from a record $63 billion the previous week. Over the most recent two weeks, weekly outflows were $187 million and $173 million, respectively.
Regional Split: U.S. Redemptions vs. European and Canadian Inflows
Flows diverged significantly by region. U.S.-listed products saw $403 million in net outflows last week, while all other regions combined recorded $230 million in net inflows. Germany led non-U.S. inflows with $114.8 million, followed by Canada at $46.3 million and Switzerland at $36.8 million.
Asset Breakdown: Bitcoin and Ether Lag, XRP and Solana Advance
Among major assets, Bitcoin and Ethereum posted the weakest sentiment. Bitcoin ETPs recorded $133 million in outflows, with BlackRock’s IBIT seeing $235 million in redemptions. Short-Bitcoin products also shed $15.4 million over the past two weeks, a pattern CoinShares notes has often coincided with market lows.
Ethereum products saw $85.1 million in outflows, led by $112.7 million in redemptions from BlackRock’s ETHA. By contrast, select altcoins attracted fresh capital. XRP-based funds led inflows with $33.4 million last week, adding to $63.1 million the week prior. Solana ETPs followed with $31 million in inflows, up from $8.2 million the previous week, signaling continued investor interest despite broader market softness.
Why It Matters
ETP flow trends are a key barometer of institutional and professional investor sentiment toward digital assets. The latest data highlight continued caution centered in the U.S., even as Europe and Canada show resilience and select altcoins draw interest. The recent slowdown in outflows and the decline in trading volumes suggest positioning may be stabilizing, but sustained net inflows will be needed to confirm a shift in sentiment.