Key Notes
- Crypto ETPs saw $1.73 billion in outflows last week, the largest since mid-November 2025.
- Bitcoin and Ethereum led the exit with $1.09 billion and $630 million in outflows.
- The United States accounted for nearly $1.8 billion of the outflows.
Crypto investment products posted one of their worst weeks on record as CoinShares data shows crypto ETPs saw roughly $1.73 billion in net outflows last week, the largest since mid-November 2025. This came just one week after $2.2 billion in inflows,
According to the CoinShares weekly report, total assets under management across crypto funds fell to $178 billion, down from $193 billion the prior week. CoinShares head of research James Butterfill said that the outflows were a result of fading expectations for interest rate cuts, weak price action, and frustration that crypto has failed to benefit from the US dollar’s weakness.
According to CoinShares, digital asset investment products recorded the largest outflow last week since mid-November 2025, totaling $1.73 billion. Bitcoin outflows amounted to $1.09 billion, marking the largest single-day outflow since mid-November 2025. Ethereum and XRP saw…
— Wu Blockchain (@WuBlockchain) January 26, 2026
Bitcoin and Ethereum Lead the Exit
Bitcoin
BTC
$88 270
24h volatility:
1.8%
Market cap:
$1.76 T
Vol. 24h:
$49.75 B
products saw $1.09 billion in outflows, the largest since mid-November 2025. Ethereum
ETH
$2 920
24h volatility:
3.3%
Market cap:
$352.56 B
Vol. 24h:
$29.44 B
followed with $630 million in withdrawals. This indicates de-risking rather than rotation. XRP
XRP
$1.90
24h volatility:
3.1%
Market cap:
$115.67 B
Vol. 24h:
$2.95 B
products lost $18.2 million, while SUI
SUI
$1.44
24h volatility:
2.5%
Market cap:
$5.46 B
Vol. 24h:
$581.50 M
saw $6 million in outflows.
Flows by asset | Source: CryptoQuant
Solana stood out as an exception, recording $17.1 million in inflows during the same period. Minor inflows were also seen in Binance-linked products at $4.6 million and Chainlink at $3.8 million. Also, short-Bitcoin products recorded $500,000 in inflows. Butterfill said that this confirms sentiment has not improved since the Oct. 10, 2025 price crash.
US Drives the Damage, Europe Buys the Dip
Regionally, the outflows were concentrated in the United States, which accounted for nearly $1.8 billion of the total. Sweden and the Netherlands followed with smaller outflows of $11.1 million and $4.4 million.
On the other hand, Switzerland, Germany, and Canada treated the pullback as an entry point. Switzerland recorded $32.5 million in inflows, Canada added $33.5 million, and Germany saw $19.1 million move into crypto products.
Meanwhile, at the issuer level, losses were concentrated in the largest players. BlackRock’s iShares products led all issuers with $951 million in outflows. Fidelity followed with $469 million, while Grayscale saw $270 million leave its funds. However, Volatility Shares recorded $83 million in inflows, and ProFunds Group added $37 million.
It is also important to note that Binance recorded its largest weekly net outflows since November 10 during the week starting January 19, 2026. According to CryptoQuant analysts, Bitcoin saw roughly $1.97 billion leave the exchange, Ethereum lost $1.34 billion, and ERC20-based USDT saw $3.11 billion in net outflows. At the same time, USDT on Tron recorded a $905 million inflow.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
