Weekly global crypto ETP outflows slow to $187 million amid early stabilization signals: CoinShares
Crypto investment products issued by asset managers like BlackRock, Fidelity, and Grayscale have seen a sharp slowdown in net weekly outflows, offering early signs of stabilization after a bruising stretch for digital asset markets, according to the latest data from CoinShares.
Global funds underpinned by cryptocurrencies recorded $187 million in net outflows last week, a steep deceleration following two consecutive weeks that each saw roughly $1.7 billion pulled from the sector.
James Butterfill, head of research at CoinShares, said the pace of flows — rather than their absolute direction — has historically provided more useful signals about shifts in investor sentiment, suggesting the latest data could point to a potential inflection point.
“While flows are typically coincident with crypto price movements, changes in the pace of outflows have historically been more informative, often signalling inflection points in investor sentiment,” Butterfill wrote. The report added that the recent slowdown may indicate that markets are approaching a local bottom, even as prices remain under pressure.
The moderation in outflows has come against a still-challenging price backdrop.
Bitcoin has remained down about 9% over the past week, despite rebounding toward the $70,000 level, while most major tokens have continued to trade lower.
CoinShares noted that the latest price correction has pushed total assets under management down to $129.8 billion — the lowest level since March 2025 — when markets were rattled by the announcement of U.S. tariffs that coincided with a local low in asset prices.
At the same time, trading activity has surged. Exchange-traded product volumes hit a record $63.1 billion for the week, surpassing the previous high set in October. According to Butterfill, it could indicate elevated repositioning as investors reassess risk amid tighter liquidity conditions.
Uneven flows
Flows remained uneven across regions and assets.
CoinShares data showed inflows into several European markets, led by Germany with $87.1 million, followed by Switzerland, Canada, and Brazil.
By assets, Bitcoin was the largest source of outflows at $264 million, standing out as the only major asset to see net withdrawals over the week.
Select altcoins, however, attracted renewed interest. XRP led inflows with $63.1 million, followed by Solana at $8.2 million and Ethereum at $5.3 million. XRP has now accumulated $109 million in year-to-date inflows, making it the strongest-performing asset on that measure, according to CoinShares.
From Feb. 2 to Feb. 6, U.S. spot crypto ETFs also saw mixed flows. Spot BTC ETFs recorded net outflows of $318 million, while spot ETH ETFs posted $166 million in net outflows, per SoSoValue data.
On Feb. 6 alone, spot ETFs tracking Bitcoin prices recorded $371 million in net inflows, even as Ethereum ETFs saw $16.75 million in net outflows. Solana spot ETFs logged modest net outflows of $8.92 million over the period, while XRP spot ETFs stood out with $39.04 million in net inflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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