Digital asset investment products recorded $1.73 billion in net outflows during the latest reporting week, marking the largest weekly withdrawal since mid-November 2025, according to CoinShares data.
The figures point to a sharp deterioration in investor sentiment, driven by persistent price weakness and fading expectations for near-term interest-rate cuts.
U.S. Leads the Exit as Europe Turns Selectively Bullish
The outflows were overwhelmingly concentrated in the United States, which accounted for nearly $1.8 billion in weekly withdrawals. This contrasts sharply with parts of Europe and Canada, where investors used the price pullback to add exposure. Switzerland ($32.5 million), Germany ($19.1 million), and Canada ($33.5 million) all posted notable inflows over the same period.
Other regions showed mixed or marginal activity. Sweden and the Netherlands followed the U.S. with smaller outflows of $11.1 million and $4.4 million, respectively, while most remaining jurisdictions recorded minimal changes.
Bitcoin and Ethereum Drive Asset-Level Losses
At the asset level, Bitcoin led the downturn with $1.09 billion in weekly outflows, its largest drawdown since mid-November 2025. Ethereum followed with $630 million in outflows, reinforcing the view that selling pressure remains broad-based rather than isolated to a single segment of the market.
XRP also saw modest withdrawals of $18.2 million, while multi-asset products continued to bleed capital. In contrast, Solana stood out as a clear exception, attracting $17.1 million in inflows during the week, bucking the dominant risk-off trend. Smaller inflows were also observed in Binance-linked products ($4.6 million) and Chainlink ($3.8 million).
Providers Show Heavy Redemptions from Major Issuers
From a provider perspective, the data highlights sustained pressure on the largest issuers. iShares recorded $951 millionin weekly outflows, while Grayscale and Fidelity saw withdrawals of $270 million and $469 million, respectively. These redemptions outweighed modest inflows into smaller providers and volatility-focused products, leaving total weekly flows deeply negative.
Sentiment Still Weighed Down by Macro Headwinds
CoinShares notes that the magnitude of these outflows mirrors periods of heightened stress seen during prior market downturns. Weak price momentum, reduced confidence in imminent monetary easing, and disappointment that digital assets have yet to benefit from broader debasement narratives continue to suppress demand.
Despite selective buying in Solana and parts of Europe, the overall flow picture suggests that investor sentiment has yet to recover meaningfully since the October 2025 price shock, keeping pressure firmly on the broader crypto investment landscape.
