Global crypto ETP outflows stretch to fifth week as $4 billion exits funds amid ‘growing investor apathy’: CoinShares

Global crypto investment products issued by asset managers like BlackRock, Bitwise, and Fidelity have logged a fifth straight week of net outflows totaling $288 million, pushing cumulative withdrawals to $4 billion, according to CoinShares.

The extended pullback, following last week’s outflows, has also coincided with a sharp drop in trading activity. Weekly exchange-traded product volumes slid to $17 billion — the weakest level since July 2025 — in what CoinShares Head of Research James Butterfill characterized as “growing investor apathy” after weeks of persistent redemptions.

The latest data arrives against a softer price backdrop. Bitcoin slipped below $65,000 this week and is down nearly 4% over the past seven days, according to The Block’s BTC price page, with most major crypto assets also in the red.

Screenshot 2026 02 23 at 1.00.50%E2%80%AFPM
Weekly global crypto ETP flows | Image: CoinShares

Mixed flows

Regionally, the divergence in sentiment remains intact.

U.S. funds accounted for $347 million in outflows, while Europe and Canada together absorbed $59 million in net inflows. Switzerland led with $19.5 million, followed by Canada at $16.8 million and Germany at $16.2 million, suggesting overseas buyers have selectively stepped into recent price weakness.

Meanwhile, Bitcoin (BTC) products drove the bulk of last week’s weakness, shedding $215 million. Short-bitcoin vehicles, however, attracted $5.5 million — the largest inflow of any asset class — pointing to renewed hedging or tactical downside positioning.

Ethereum (ETH) funds saw $36.5 million in outflows, while multi-asset products and Tron recorded $32.5 million and $18.9 million in redemptions, respectively. Elsewhere, minor inflows into XRP, Solana, and Chainlink were insufficient to offset broader altcoin outflows. The decline has compounded a month-long drawdown that has steadily drained momentum from crypto ETPs.

While the cumulative $4 billion in outflows remains below the roughly $6 billion recorded over the same period last year, the combination of persistent redemptions and thinning volumes suggests institutional engagement has cooled materially as prices remain in a downturn.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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