Crypto ETP flows reverse as Bitcoin and Ether see redemptions
Crypto exchange-traded products recorded $1.73 billion in net outflows over the past week, reversing the prior week $2.2 billion inflow and marking the largest weekly withdrawal since mid-November 2025, according to CoinShares data published Monday (Jan. 26, 2026).
Bitcoin products accounted for about $1.09 billion of the outflows and Ether products for about $630 million, putting the two largest assets at roughly $1.72 billion combined as investors reduced exposure amid what CoinShares described as negative price momentum and fading expectations for interest-rate cuts.
The redemptions were concentrated in U.S.-listed products, with the United States logging roughly $1.8 billion of the weekly outflows, while Switzerland, Canada and Germany recorded net inflows of about $32.5 million, $33.5 million and $19.1 million, respectively.
By issuer, BlackRock’s iShares products led weekly outflows at about $951 million, followed by Fidelity at about $469 million and Grayscale at about $270 million, while Volatility Shares and ProFunds Group posted inflows of roughly $83 million and $37 million, respectively.
Altcoin flows were mixed, with Solana products posting about $17.1 million of inflows even as XRP and Sui products saw outflows of about $18.2 million and $6 million; Chainlink products logged about $3.8 million of inflows. CoinShares also recorded roughly $0.5 million of inflows into short-Bitcoin products, which the firm said still pointed to fragile sentiment following an Oct. 10, 2025 price shock referenced in its commentary.
CoinShares said total assets under management across tracked crypto funds fell to about $178 billion from about $193 billion a week earlier, reflecting both net withdrawals and the effect of underlying price moves.
In market context, CoinShares attributed the week’s pullback to a combination of macro disappointment and positioning, citing diminished rate-cut expectations and a lack of “debasement trade” participation by digital assets, while the broader backdrop remained sensitive to cross-asset risk tone.
On price action, CoinShares’ own market update for the same weekly window said Bitcoin fell about 6.4% over the week while its broader index of tracked crypto assets dropped about 3.1%, reinforcing the risk-off tone that coincided with the outflows.
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