Global crypto exchange-traded products posted US$1.67 billion in net outflows last week, according to CoinShares' Digital Asset Fund Flows report released on June 1. US-based products accounted for US$1.63 billion of that total, making the United States the clear center of the selloff.
The withdrawals extended a three-week streak of redemptions that has now reached US$4.21 billion. A brief rebound on May 28, when crypto ETFs took in more than US$428 million, did not reverse the broader move. Assets under management fell from US$148 billion to US$141 billion, the lowest level since early April. CoinShares linked the retreat to rising risk aversion tied to escalating geopolitical tension around Iran.
Bitcoin takes the heaviest hit
Bitcoin made up the bulk of the weekly withdrawals, with US$1.438 billion in net outflows. That was its largest weekly exit of 2026. The move cut Bitcoin's year-to-date net inflows to US$1.2 billion, down from US$2.6 billion a week earlier.
The latest figures followed another weak stretch for the asset. In the week ending May 18, Bitcoin products had already recorded US$1.26 billion in outflows across five trading sessions, including a US$630 million single-day redemption on May 13. Ethereum also turned lower last week, posting US$257 million in net outflows as selling spread beyond Bitcoin-focused products.
US spot ETF selling stands out
Regional data showed much smaller withdrawals elsewhere. Germany recorded US$25.7 million in outflows, while Sweden and Hong Kong saw net withdrawals of US$6.6 million and US$4.5 million. The concentration in the US market points to heavy selling in listed crypto funds, especially among institutional holders.
SoSoValue data from the Friday, May 29 session illustrates that pressure. BlackRock's IBIT led the daily selloff with US$68.2 million in outflows, followed by Fidelity's FBTC at US$31.95 million. Grayscale lost US$9.74 million from Bitcoin Mini Trust and US$2.85 million from GBTC, while Ark and 21Shares' ARKB gave up US$7.3 million.
Even with the outflow, IBIT remained the largest fund by net assets at US$58.05 billion. FBTC stood at US$13.37 billion, and GBTC held US$10.74 billion.
Inflows into smaller tokens lose momentum
Demand for smaller digital assets also narrowed sharply. Three weeks earlier, 11 assets had posted net inflows. Last week, only five drew more than US$1 million. XRP led that group with US$20.3 million, followed by Hyperliquid at US$10.8 million and NEAR at US$7.6 million.
Price action did not move in the same direction across those names. Over the past week, Hyperliquid's HYPE rose 13.3% and reached a new all-time high. NEAR slipped 0.11%, while XRP fell 4.92%. CoinShares said the wider pullback reflected stronger risk-off sentiment that pushed redemptions across most regions and most crypto ETP categories.