Crypto ETPs See Second-Largest Weekly Outflows of 2026 Amid Market Sell-Off

Crypto investment products extended losses to three straight weeks last week amid ongoing selling pressure in markets and limited institutional demand.

Crypto exchange-traded products (ETPs) recorded $1.67 billion in outflows last week, the second-largest weekly withdrawal of 2026, CoinShares reported on Monday.

The fresh outflows bring three-week losses to $4.21 billion, with total assets under management dropping to $141 billion, the lowest level since early April.

CoinShares head of research James Butterfill attributed surging outflows to an Iran-related risk-off move that has now overwhelmed any cushioning effect from CLARITY Act progress. “The pattern is reminiscent of the January-February episode that delivered five consecutive negative weeks,” he said.

Bitcoin sees the largest weekly outflow of 2026

Bitcoin (BTC) ETPs led weekly outflows by a wide margin, with $1.44 billion leaving the funds, marking the largest weekly outflow so far this year.

The funds were $2.4 billion down month-to-date but still had about $1.2 billion in inflows year-to-date, while assets under management fell to $114.6 billion.

Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

Ether (ETH) funds continued to see selling pressure with $257.3 million in outflows, bringing year-to-date losses to $346 million.

Altcoin participation also collapsed, CoinShares’ Butterfill said, referring to only five assets recording substantial inflows above $1 million, down from nine a week prior.

XRP (XRP) again led positive momentum with $20.3 million in inflows, while Hyperliquid (HYPE) and Near (NEAR) followed with $10.8 million and $7.6 million, respectively.

US drives losses with $1.63 billion of outflows

Regionally, the United States drove the global outflow story with $1.63 billion of outflows, aligning with $1.42 billion in outflows from US-listed spot Bitcoin exchange-traded funds (ETFs), according to SoSoValue data.

Germany joined the risk-off sentiment with $25.7 million of outflows, while Sweden and Hong Kong saw $6.6 million and $4.5 million in outflows, respectively. The Netherlands again was the only country to see inflows above $1 million, with $1.3 million in inflows, down from $6.6 million a week prior.

Crypto ETP flows by country (in millions of US dollars). Source: CoinShares

According to the derivatives trading desk at Laser Digital, the crypto sell-off last week came without a clear catalyst and was affected by underperforming equities.

Related: Strategy's Michael Saylor teases BTC buy with 'working better' tweet

The unit cited a lack of demand, including Michael Saylor’s Strategy announcing that it did not purchase any BTC between May 18 and May 24.

“With STRC still trading below par and the continued lack of interest from retail buyers, BTC is expected to remain weak for the time being,” it said in a statement seen by Cointelegraph.