CoinShares’ head of research, James Butterfill, attributed last week’s outflows to broad market negativity and ongoing price weakness. After starting last week at $70,000, Bitcoin ($BTC) briefly dropped to as low as $65,000 last Thursday, according to Coinbase data.
Bitcoin leads outflows, while $XRP and Solana buck the trend
Bitcoin ETPs drove last week’s negative sentiment, with outflows totaling $133.3 million and AUM declining to around $106 billion.
US spot Bitcoin exchange-traded funds (ETFs) painted an even bleaker picture, with outflows approaching $360 million last week, according to SoSoValue data.
Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares
Echoing Bitcoin’s trend, Ether (ETH) funds recorded $85 million in outflows, though US spot Ether ETFs saw modest inflows of $10 million.
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$XRP ($XRP) and Solana (SOL) ETPs bucked the trend, emerging as the top performers with inflows of $33.4 million and $31 million, respectively.
US crypto products saw more than $400 million in outflows
Butterfill highlighted a significant divergence in sentiment between the US and other regions.
While US crypto investment products saw $403 million in outflows, all other regions recorded sizable inflows totaling $230 million.
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Weekly crypto ETP flows by country as of Friday (in millions of US dollars). Source: CoinShares
Germany, Canada and Switzerland saw the largest gains, with inflows of $115 million, $46 million and around $37 million, respectively.
The outflows came amid Standard Chartered analysts officially lowering their 2026 Bitcoin target from $150,000 to $100,000 last week, forecasting the crypto asset to drop to $50,000 before recovering.
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