Crypto investment products logged a third straight week of outflows, though the pace of selling eased markedly as digital asset prices steadied after a sharp downturn.
Crypto exchange-traded products (ETPs) recorded $187 million in outflows during the week, a sharp drop from the $3.43 billion seen over the previous two weeks, CoinShares reported on Monday.
The slowdown came as Bitcoin (BTC) fell to its lowest level since November 2024, with the price touching $60,000 on Coinbase last Thursday.
“While flows typically move in line with crypto prices, changes in the pace of outflows have historically been more informative, often signaling inflection points in investor sentiment,” said James Butterfill, CoinShares’ head of research.
Bitcoin ETPs only to post major losses, while $XRP leads inflows
Bitcoin investment products were the only ETP group to suffer significant losses last week, with outflows totaling $264.4 million.
$XRP ($XRP) funds led inflows, attracting $63 million, while other altcoin ETPs, such as those tracking Ether (ETH) and Solana (SOL), posted modest gains of $5.3 million and $8.2 million, respectively.
Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares
Spot Bitcoin exchange-traded funds (ETFs) accounted for a large portion of Bitcoin ETP outflows last week, amounting to $318 million, according to SoSoValue data.
ETP volumes hit record $63 billion in weekly trading
Addressing last week’s slowdown in outflows, Butterfill suggested that a “potential market nadir may have been reached,” implying that a possible bottom could have formed for ETPs.
Despite the easing of outflows, last week marked a milestone in trading activity. According to Butterfill, ETP volumes reached a record $63.1 billion, surpassing the previous high of $56.4 billion set in October last year.
Related: BlackRock’s IBIT hits daily volume record of $10B amid Bitcoin crash
Assets under management (AUM) in Bitcoin ETPs stood at $102.7 billion by the end of the week, while ETF AUM fell below $90 billion.
Weekly Bitcoin ETF flows year-to-date. Source: SoSoValue
Meanwhile, global crypto ETP AUM declined to $129 billion, the lowest level since March 2025, Butterfill noted.
Following three consecutive weeks of outflows, crypto ETPs have lost a total of $1.2 billion year-to-date, compared with $1.9 billion of outflows in Bitcoin ETFs.
In other industry news, major crypto fund issuer 21Shares filed last week with the US Securities and Exchange Commission for an ETF tracking Ondo (ONDO).
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