Cryptocurrency exchange-traded products (ETPs) experienced their second consecutive week of significant outflows, dropping total assets under management (AUM) to $207.5 billion, the lowest since mid-July.
Last week, crypto ETPs saw $1.17 billion in outflows, up approximately 70% from the $360 million recorded the previous week, according to CoinShares.
James Butterfill, head of research at CoinShares, attributed the sell-off to ongoing negative market sentiment following the October 10 flash crash and investor uncertainty over a potential US interest rate cut in December.
ETP trading volumes remained robust at $43 billion for the week, with a brief recovery on Thursday amid optimism over the US government shutdown. Outflows resumed on Friday as optimism faded.
Bitcoin and Ether lead the decline
Bitcoin BTC$106,490 ETPs led the outflows, losing $932 million, slightly lower than the $946 million recorded the prior week.
Ether ETH$3,615 funds also faced selling pressure, posting $438 million in outflows, a sharp reversal from $57 million of inflows the previous week.
Meanwhile, short Bitcoin ETPs recorded $11.8 million of inflows, marking one of the highest weekly inflows since May 2025.
Altcoins show resilience
Some altcoins bucked the negative trend:
- Solana SOL$169.82 ETPs attracted $118 million of inflows last week, contributing to $2.1 billion inflows over the past nine weeks.
- Other resilient tokens included XRP XRP$2.56, Hedera (HBAR), and Hyperliquid (HYPE), which saw $28 million, $27 million, and $4.2 million of inflows, respectively.
After two weeks of heavy outflows totaling $1.5 billion, total crypto ETP AUM dropped to $207.5 billion, down from a peak of over $254 billion in early October.