CoinShares reported that crypto exchange-traded products (ETPs) suffered $1.67 billion in net outflows last week, a sharp reversal for 2026. The selling was led by the United States, where U.S.-listed spot Bitcoin ETFs accounted for most of the redemptions, sharply compressing total ETP assets under management (AUM).
Bitcoin-focused funds posted their largest weekly outflow year-to-date, making BTC the primary vehicle of capital flight. At the same time, altcoin participation narrowed drastically, with products tied to Ethereum and other major altcoins seeing a significant drop in trading activity and investor involvement.
Analysts at CoinShares described the synchronized outflows as a systemic de-risking event, with investors reducing exposure to the entire crypto sector rather than targeting specific assets. This has eroded market breadth and placed sustained pressure on ETP valuations, highlighting an environment where sellers remain firmly in control.