Crypto investment products saw $1.47 billion in outflows this week. This marks the third-largest weekly outflow of 2026 and the second consecutive negative week. It is the sharpest selling wave since the twin $1.7 billion outflow weeks recorded at the end of January.
According to CoinShares’ weekly report, cumulative outflows over the past two weeks reached $2.54 billion. Despite progress around the CLARITY Act, risk appetite continues to weaken due to Iran-related geopolitical concerns, and this pressure is now spreading geographically.
Bitcoin Records Its Largest Weekly Outflow of 2026
Bitcoin funds ended the week with $1.315 billion in outflows. This figure surpassed the late-January peak, making it the largest weekly BTC outflow of 2026. Year-to-date cumulative inflows into Bitcoin fell from $3.9 billion to $2.6 billion. In other words, $1.3 billion was erased in a single week.
U.S.-based spot Bitcoin ETFs also posted $1.26 billion in outflows, marking their worst week since late January.
Ethereum was also affected by the broader pressure. ETH products recorded $222.8 million in outflows, almost unchanged from the previous week. Ethereum’s year-to-date cumulative flow has now turned negative at minus $89 million.
Selective Interest in Altcoins Continued, But Weakened
Although the broader picture remained negative, some altcoin funds managed to stay in positive territory. XRP funds saw $31.8 million in inflows, while Solana received $7.7 million, Sui attracted $2.9 million, and multi-asset products recorded $4.7 million in net inflows.
Short Bitcoin products also saw $10.2 million in inflows. Chainlink attracted $0.6 million, while Litecoin recorded $0.4 million in weekly inflows. Weekly data for Zcash was not disclosed. The number of assets with meaningful inflows above $1 million fell from 11 in the previous week to 9.
Selling Is No Longer Just a U.S. Story
Last week, Europe’s resilience had drawn attention. This week, the picture reversed. The U.S. accounted for most of the outflows with $1.425 billion, but the selling wave has now taken on a more global character.
Switzerland saw $16.2 million in outflows, Canada recorded $12.5 million, and Hong Kong posted $12.2 million in outflows. Germany remained practically flat. Europe, which had been the exception last week, is now part of the broader pressure.
Provider Breakdown
iShares was the most affected provider, with $1.191 billion in weekly outflows. Fidelity saw $129 million leave its products, while ARK 21Shares recorded $107 million in outflows. Grayscale’s outflows were relatively limited at $12 million.
Bitwise and 21Shares AG remained slightly positive, each recording $1 million in inflows. Total assets under management were reported at $148.7 billion. The weekly outflow represented roughly 1% of that total.
CoinShares Head of Research James Butterfill noted in the report that Iran-linked geopolitical pressure continues to weigh on the market. Positive developments around the CLARITY Act have not been enough to halt the outflow trend for now.
The two-week cumulative outflow figure of $2.54 billion points to a serious shift in sentiment for 2026. For the market to recover, geopolitical risks may need to ease or a new institutional catalyst may need to emerge. For now, both conditions remain uncertain.
