Digital asset investment products recorded $1.07 billion in net outflows last week, ending a six-week winning streak and marking the third-largest weekly withdrawal of 2026, according to a CoinShares report published Monday. Bitcoin products bore the brunt with $982 million in outflows, while ethereum funds shed $249 million — their largest single-week withdrawal since January 30.
Despite the headline figure, the data revealed a clear rotation rather than an indiscriminate exit. XRP products attracted $67.6 million in fresh capital and SOL funds pulled in $55.1 million, with smaller positive flows recorded for TON, dogecoin and Chainlink. Eleven assets finished the week in positive territory, according to CoinShares Head of Research James Butterfill.
The withdrawals were overwhelmingly an American story. U.S.-listed products accounted for $1.14 billion in net outflows, exceeding the global total because Europe and Canada were net buyers. Switzerland added $22.8 million, Germany $22 million, the Netherlands $7.5 million and Canada $12.6 million — a regional divergence that has become a recurring theme this year. CoinShares attributed the bitcoin-led selling primarily to renewed geopolitical anxiety tied to Iran.
The institutional repositioning was reinforced by a Q1 2026 13F filing from Goldman Sachs, which showed the bank had fully exited its XRP and SOL spot ETF positions and cut ETH ETF exposure by roughly 70%, while maintaining about $690 million in BTC ETF holdings. The bank appears to be rotating from direct token exposure into crypto-linked equities such as Circle, Galaxy Digital and Coinbase. Per AMBCrypto’s review of the filing, similar reductions were visible at Harvard, Jane Street and Emory.
Total assets under management for crypto ETPs slipped from $159 billion to $157 billion on the week, with BTC trading near $76,800 at the time of publication after shedding roughly $5,000 in days. Year-to-date inflows for bitcoin funds remain positive at $3.9 billion, but the cushion has thinned. The question for coming weeks is whether U.S. outflows moderate or accelerate — and whether the altcoin rotation proves structural or a brief divergence before broader risk-off pressure returns.
