US-based funds drive $1.7B in global crypto ETP outflows as redemption streak extends to three weeks: CoinShares

Global crypto exchange-traded products managed by issuers such as BlackRock, Fidelity, and Grayscale recorded $1.67 billion in outflows last week, marking the third consecutive week of net redemptions and the second-largest single-week outflow of 2026, behind only the week ending Jan. 23, according to CoinShares.

Last week, The Block reported that outflows had deepened to $1.5 billion, with Bitcoin products posting what was then the worst weekly redemption of 2026.

Three-week cumulative outflows now stand at $4.21 billion, with total assets under management falling to $141.9 billion from $148 billion the week prior. It’s the lowest level since early April, CoinShares Head of Research James Butterfill noted in the firm's weekly report.

Butterfill attributed the sustained outflow streak to Iran-related risk-off sentiment overwhelming any support from legislative progress on the Clarity Act. He also drew a parallel to the January-February episode that produced five consecutive weeks of net redemptions.

Bitcoin ETFs mark largest exit of 2026

Bitcoin (BTC) products led the retreat with $1.44 billion in net outflows globally, the largest weekly Bitcoin redemption of 2026 and exceeding the prior week's record. Year-to-date Bitcoin funds inflows have compressed sharply, falling to $1.2 billion from $2.6 billion the week prior.

Specifically, U.S. spot Bitcoin ETFs shed $1.42 billion over the same period — the third-highest weekly outflow on record for that segment — according to SoSoValue data, suggesting domestic institutional selling drove the bulk of the global figure.

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Ethereum ETFs also saw $257 million in net outflows globally. U.S. spot Ethereum ETFs in particular posted $241 million in redemptions over the same stretch, a third consecutive week of outflows.

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Meanwhile, altcoin participation collapsed to just five assets recording meaningful inflows, down from nine the prior week. XRP (XRP) funds led with $20.3 million, followed by Hyperliquid (HYPE) ETFs at $10.8 million and Near (NEAR) products at $7.6 million.

Regionally, the U.S. accounted for $1.63 billion of the global total as withdrawals remained clustered in the United States. Germany-based funds joined the selloff with $25.7 million in net outflows — having held up through prior episodes — while products in Sweden shed $6.6 million and Hong Kong $4.5 million.