- Crypto ETPs logged $187 million in weekly outflows, far below the $3.43 billion withdrawn over the prior two weeks as bitcoin hit $60,000
- Bitcoin ETPs led redemptions with $264.4 million out, while XRP, Ether, and Solana products drew inflows and trading volume reached a record $63.1 billion
Crypto ETP markets are showing signs of stabilizing after weeks of heavy selling, as outflows slowed while trading activity reached new highs. Data from CoinShares and other industry trackers indicate that investors continued to pull money from crypto exchange-traded products, but at a far more moderate pace than in prior weeks, even as digital asset prices remained under pressure.
Outflows from crypto ETP products ease after sharp downturn
Crypto investment products registered their third consecutive week of net redemptions, but the scale of withdrawals shrank notably. According to CoinShares, crypto ETPs saw $187 million in outflows over the latest week. That compares with a combined $3.43 billion exiting these products across the previous two weeks, signaling a clear deceleration in selling pressure.
The cooling of outflows came in a week when Bitcoin tested fresh lows. On Coinbase, the largest cryptocurrency dropped to $60,000 last Thursday, its weakest level since November 2024. Historically, flows in and out of crypto ETP products tend to move broadly in line with price moves. However, CoinShares’ head of research, James Butterfill, pointed out that changes in the speed of outflows can sometimes offer a more useful gauge of investor mood, often hinting at potential turning points in sentiment.
Butterfill suggested the latest figures might indicate that a “potential market nadir may have been reached,” referring to ETP performance. While prices remained soft and overall flows stayed negative, the reduced pace of redemptions contrasted with the heavy withdrawals seen earlier in the month.
Bitcoin-focused crypto ETP products lead losses as altcoins draw inflows
Within the broader set of crypto ETP products, bitcoin-linked vehicles bore the brunt of the selling. Bitcoin investment products were the only major ETP category to post notable outflows during the week, shedding $264.4 million. This underscored a continued bias among investors to reduce exposure to bitcoin, even as other segments of the market attracted fresh capital.
XRP-based funds were the standout on the inflow side. Products tracking XRP brought in $63 million over the week, the largest positive flow among the monitored assets. Other altcoin ETP products also managed to gather modest new investments. Ether ETPs saw inflows of $5.3 million, while Solana-linked products attracted $8.2 million. These figures suggest that some investors are selectively rotating into non-bitcoin assets despite the broader risk-off tone.
Spot bitcoin exchange-traded funds made up a substantial portion of the bitcoin-related withdrawals. Data from SoSoValue showed that spot Bitcoin ETFs accounted for $318 million of the overall bitcoin ETP outflows last week. The divergence between bitcoin-focused vehicles and other crypto ETP products highlighted how investor sentiment remains particularly cautious around the largest digital asset.
Record trading volumes and shifting assets under management in crypto ETPs
Even as net flows stayed negative, activity in crypto ETP markets reached unprecedented levels. Butterfill noted that weekly trading volume in crypto ETP products hit a record $63.1 billion. This surpassed the previous peak of $56.4 billion set in October of the prior year, underlining how trading interest remained elevated despite ongoing price weakness and outflows.
The surge in activity coincided with notable shifts in assets under management. By the end of the week, bitcoin ETPs held $102.7 billion in assets. In contrast, the asset base of Bitcoin ETFs slipped below $90 billion, reflecting the recent net redemptions from spot funds. On a broader basis, global crypto ETP AUM dropped to $129 billion, which Butterfill described as the lowest level since March 2025.
Cumulatively, three straight weeks of outflows have taken a visible toll on the sector. Year-to-date, crypto ETP products have lost $1.2 billion in net terms. For Bitcoin ETFs specifically, the total outflow stands at $1.9 billion over the same period. These numbers highlight the degree of caution that has taken hold among institutional and retail users of structured crypto vehicles, even as trading activity climbs.
Key takeaways
- Crypto ETPs saw $187 million in weekly outflows, sharply lower than the $3.43 billion withdrawn over the prior two weeks.
- Bitcoin ETPs led redemptions with $264.4 million out, while XRP, Ether, and Solana ETP products attracted new inflows.
- Weekly crypto ETP trading volume hit a record $63.1 billion, as global ETP AUM fell to $129 billion, the lowest since March 2025.
New product moves as 21Shares files ETF for Ondo
Amid the shifts in flows and record trading volumes, new product development in the crypto ETP space continued. Major crypto fund issuer 21Shares submitted a filing to the US Securities and Exchange Commission for an exchange-traded fund that would track Ondo (ONDO). The application underscores ongoing interest in expanding the range of listed products tied to specific tokens, even as the overall environment for crypto ETP vehicles remains volatile.
The proposed Ondo ETF arrives at a time when investors are reassessing risk across the sector. With bitcoin ETPs facing persistent redemptions and altcoin-focused products drawing more selective inflows, new launches such as the ONDO-focused fund will likely be watched closely as indicators of demand for niche or thematic exposure within the crypto ETP universe.
Conclusion
The latest data on crypto ETP activity shows a market in transition, with outflows slowing, bitcoin-focused products still under pressure, and altcoins registering selective inflows. Record weekly trading volumes and declining assets under management point to an environment where investors remain active but cautious. At the same time, firms such as 21Shares continue to push forward with new ETF filings, signaling that product expansion in the crypto ETP segment is proceeding despite recent volatility and ongoing redemptions.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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