Global crypto investment products run by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares witnessed net outflows for the second consecutive week, with $508 million exiting the funds last week, according to CoinShares data.
"We believe investors are exercising caution following the U.S. Presidential inauguration and the consequent uncertainty around trade tariffs, inflation and monetary policy," CoinShares Head of Research James Butterfill said in a Monday report. "This is also evident in trading turnover, which has fallen considerably from $22 billion two weeks ago to $13 billion last week."
The figures bring total net outflows over the past two weeks to $924 million, following the $18 billion added to the funds during the previous 18 weeks.
Weekly crypto asset flows. Images: CoinShares.
Most of the flows came from U.S.-based funds as usual, with $560 million leaving the funds, while crypto investment products in Brazil, Canada and Hong Kong also saw moderate net outflows. However, the negative sentiment was not reflected in Europe, with crypto funds based in Germany, Switzerland and Sweden registering healthy net inflows of $30.5 million, $15.8 million and $4.9 million, respectively.
Global bitcoin investment products led the net weekly outflows with $571 million, as short-bitcoin funds attracted $2.8 million worth of net inflows. Despite some volatility, bitcoin traded flat over the past week, down 0.3%, according to The Block's Bitcoin Price Page.
The U.S. spot Bitcoin exchange-traded funds accounted for the majority of the outflows, with $552.5 million exiting the ETFs last week, according to data compiled by The Block.
Despite a greater price decline, XRP bucked the trend, again leading altcoin-based funds by adding $38.3 million last week. XRP investment products have now generated $819 million in net inflows since mid-November — reflecting investor hopes that the Securities and Exchange Commission will drop its lawsuit against developer Ripple, Butterfill noted.
Solana, Ethereum and Sui-based investment products also witnessed net inflows of $8.9 million, $3.7 million and $1.5 million, respectively, amid price corrections. XRP dropped 7.5% during the past week, while ETH slipped 1.8%, SOL 13.7% and SUI 0.7%.
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