Key takeaways:
- Digital asset products saw US$1.7bn of weekly outflows, flipping YTD flows to a net outflow of US$1bn and driving a US$73bn fall in AuM since October 2025 highs.
- Outflows were heavily concentrated in the US at US$1.65bn, with broadly negative sentiment across regions and major assets, led by Bitcoin and Ethereum.
- Short Bitcoin and Hype products were notable exceptions, benefiting from defensive positioning and tokenised precious metals activity respectively.
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