In brief
- Digital asset funds saw $1.73 billion in outflows, the largest since mid-November 2025.
- U.S. products accounted for nearly all withdrawals, while Europe and Canada saw selective inflows.
- Analysts cite macroeconomic pressure and falling prices as the main drivers.
Digital asset investment products recorded $1.73 billion in outflows last week, marking the largest weekly withdrawal since mid-November 2025, according to data published Monday by CoinShares.
Bitcoin investment products led the declines, with $1.09 billion exiting during the week, while Ethereum funds saw $630 million in outflows. In contrast, Solana-linked products recorded inflows of $17.1 million. Total assets under management across digital asset investment products stood at $178 billion.
The scale of the outflows reflects a combination of macroeconomic pressures and market-specific weakness. In its report, CoinShares cited dwindling expectations for interest rate cuts, negative price momentum and disappointment that digital assets have yet to benefit from the so-called debasement trade as key drivers behind the pullback.
The broader crypto market has also been under pressure. Bitcoin is currently trading at around $87,620, down 5.5% over the past seven days, while Ethereum fell 9.5% over the same period to around $2,900. Over the past 24 hours, the market has seen more than $720 million in liquidations, $465 million of which came from long positions.
Macro factors in play
The downturn in the crypto market is largely macro-driven rather than a reflection of weakening crypto usage, according to industry executives.
“Entering February with bearish sentiment wouldn’t be surprising, but I expect less aggressiveness,” said Maksym Sakharov, co-founder and group chief executive of WeFi.
“The outflows primarily came from the U.S., and the market-wide downturn is largely due to macroeconomic expectations. The downturn isn’t happening because of a collapse in crypto usage.”
Regionally, investment product outflows were heavily concentrated in the United States, which accounted for nearly $1.8 billion of the total. But elsewhere, sentiment was more mixed. Sweden and the Netherlands recorded smaller outflows of $11.1 million and $4.4 million, respectively.
Investors in Switzerland, Germany and Canada took advantage of recent price weakness to add to positions, seeing inflows of $32.5 million, $19.1 million and $33.5 million, respectively, the report said.
In addition to Bitcoin and Ethereum, XRP-linked products saw $18.2 million in withdrawals. Minor inflows were recorded in several smaller products, including those linked to Binance and Chainlink.