Crypto Investment Products Extend Outflow Streak as Volumes Hit Multi-Month Low

Global crypto investment products from asset managers such as BlackRock, Bitwise, and Fidelity Investments recorded a fifth consecutive week of net outflows, totaling $288 million, according to CoinShares. That brings cumulative withdrawals over the past five weeks to $4 billion.

The sustained redemptions have coincided with a notable slowdown in trading activity. Weekly exchange-traded product (ETP) volumes fell to $17 billion — the lowest level since July 2025. CoinShares Head of Research James Butterfill described the trend as “growing investor apathy” following weeks of consistent outflows.

U.S. funds accounted for $347 million of last week’s withdrawals. In contrast, Europe and Canada together posted $59 million in net inflows. Switzerland led regional gains with $19.5 million, followed by Canada ($16.8 million) and Germany ($16.2 million), indicating selective buying outside the U.S. during the recent price pullback.

Bitcoin products bore the brunt of the pressure, losing $215 million. Meanwhile, short-bitcoin vehicles attracted $5.5 million — the largest inflow across asset categories — suggesting renewed hedging activity or tactical downside positioning.

Ethereum funds saw $36.5 million in outflows, while multi-asset products and Tron recorded redemptions of $32.5 million and $18.9 million, respectively. Small inflows into XRP, Solana, and Chainlink were not enough to offset broader weakness across altcoins.

The pullback comes amid softer market conditions. Bitcoin has slipped below $65,000 and is down nearly 4% over the past week, with most major digital assets trading lower.

Although the $4 billion in cumulative outflows remains below the roughly $6 billion recorded over the same stretch last year, the combination of steady redemptions and declining volumes suggests institutional engagement has cooled noticeably as the market downturn persists.