Volume 224: Digital Asset Fund Flows Weekly Report

From CoinShares Research Blog by James Butterfill

Negative sentiment continues with outflows of US$876m, signs of capitulation

Digital asset investment products saw their 4th consecutive week of outflows, totalling US$876m. Although this indicates a slowdown in the pace of outflows, investor sentiment remains bearish. The cumulative outflows over this period now amount to US$4.75bn, reducing the year-to-date inflows to US$2.6bn. Total assets under management (AuM) have declined by US$39bn from their peak to US$142bn, the lowest point since mid-November 2024, driven by both negative price movements and sustained outflows.

Regionally, US investors were the most bearish pulling out US$922m, while most other regions saw this as a buying opportunity, most notable being Switzerland, Canada and Germany, with inflows of US$23m, US$14.7m and US$13.3m respectively.

Bitcoin was the primary focus, seeing US$756m in outflows last week, although short-bitcoin also saw outflows of US$19.8m, the largest since December 2024. A wide range of altcoins saw outflows too, most notable being Ethereum (US$89m), Tron (US$32m) and Aave (US$2.4m). Conversely, Solana, XRP and Sui continued to see inflows totalling US$16.4m, US$5.6m and US$2.7m respectively.

Blockchain related equity ETPs didn’t escape the negative sentiment, seeing US$48m outflows last week.