Bitcoin funds drive $215M in outflows as crypto ETPs cool

Global crypto exchange-traded products logged a fifth consecutive week of net outflows, with $288 million withdrawn in the latest week and $4 billion over five weeks, based on CoinShares’ weekly tally.

Trading activity slowed alongside the redemptions. Exchange-traded product volumes slid to $17 billion for the week, the lowest since July 2025. James Butterfill, head of research at CoinShares, described the pattern as ‘growing investor apathy.’

Flows varied by region. U.S.-listed funds recorded $347 million in net outflows last week, while Europe and Canada together posted $59 million in inflows. Switzerland led with $19.5 million, followed by Canada with $16.8 million and Germany with $16.2 million.

By asset, bitcoin products drove most of the withdrawals, shedding $215 million on the week. Short-bitcoin funds drew $5.5 million, the largest inflow among categories tracked. Ethereum-focused products saw $36.5 million in outflows, while multi-asset vehicles and Tron registered $32.5 million and $18.9 million in redemptions, respectively. Modest inflows into XRP, Solana and Chainlink were outweighed by outflows in other altcoin products.

The moves came as crypto prices eased. Bitcoin fell nearly 4% over the week, with most large-cap tokens also lower. CoinShares noted that five-week outflows of $4 billion remain below roughly $6 billion over a comparable stretch last year.

As we reported earlier, Bitcoin erased weekend gains on Monday as the Crypto Fear & Greed Index dropped to 5 out of 100 and exchanges saw $489 million in liquidations, with 89% affecting long positions. The index has hit 5 only three times since launching in 2018-August 2019, June 2022, and earlier this month. Bitcoin has stayed in a range since the Feb. 6 sell-off.