Crypto ETP redemptions cool after heavy selling, CoinShares says

The latest weekly data, published Monday, Feb. 9, 2026, showed investors still pulling money from regulated crypto investment products, but at a far slower pace than earlier in the selloff. CoinShares’ figures were cited as indicating outflows of $187 million, down from a combined $3.43 billion over the prior two weeks, with the deceleration framed as an early “calm” signal after weeks of heavy redemptions.

CoinShares also reported that total assets under management across digital-asset investment products fell to about $129.8 billion, described as the lowest level since March 2025, after the recent price correction. At the same time, weekly turnover in crypto ETPs climbed to a record $63.1 billion, surpassing the previous high of $56.4 billion set in October, a sign that investors were actively repositioning even as net flows remained negative.

Regionally, CoinShares’ breakdown showed inflows in several non-U.S. markets even as the global total stayed in the red. Germany recorded $87.1 million of inflows, Switzerland took in $30.1 million, Canada added $21.4 million, and Brazil logged $16.7 million, according to the figures cited from the report.

At the asset level, the report described Bitcoin-linked products as the main source of net withdrawals during the week. CoinShares’ numbers cited in secondary summaries put Bitcoin investment-product outflows at $264 million, while some altcoin products saw inflows, including Ethereum, XRP and Solana, indicating more selective risk-taking even as the category overall continued to lose assets.

The slowdown follows a period of unusually heavy selling in regulated crypto vehicles during the early-February drawdown. In the prior week, CoinShares reported $1.7 billion of outflows, concentrated in the U.S., and described year-to-date flows as flipping to a net outflow as sentiment deteriorated alongside a sharp fall in industry-wide assets under management from October 2025 highs.

That earlier report also described broad-based negative sentiment across major assets during the peak of redemptions, with Bitcoin and Ethereum among the largest contributors, while inflows into short-Bitcoin products were cited as reflecting defensive positioning.

CoinShares’ Feb. 9 update landed as investors continued to track whether crypto is trading as a high-beta risk asset alongside equities. The flow shift came after a volatile stretch for digital assets in which price declines, leverage reductions and rapid intraday swings raised the sensitivity of fund flows to broader moves in stocks and rates, with ETP volumes climbing as investors adjusted exposure.

An earlier January report tied the start of the outflow run to weakening rate-cut expectations, negative price momentum, and disappointment that digital assets had not participated in the “debasement trade,” while also noting that regional flow patterns can diverge, with the U.S. often driving the largest swings in weekly totals.

For market participants, the latest data points to a split message: redemptions persisted, but the pace eased materially, and the record ETP turnover suggests heavy two-way activity rather than one-directional selling. CoinShares’ summaries characterized the change in the speed of outflows as more informative than the headline net number alone, as investors watch whether the next weekly print confirms a shift from liquidation-driven withdrawals toward steadier positioning.