Cryptocurrency ETP sees a net outflow of $446 million in one week! XRP and Solana ETFs attract over $77 million in contrary inflows

The latest weekly digital asset fund flow report from CoinShares shows that last week, global digital asset investment products experienced a net outflow of $446 million, expanding the total capital outflow since the significant market correction on October 10 to $3.2 billion. This data indicates that although prices have stabilized temporarily, overall market sentiment has not fully recovered, and risk appetite remains cautious.

From an annual perspective, the cumulative inflow into digital asset products since the beginning of the year is approximately $46.3 billion, roughly in line with the $48.7 billion recorded in the same period in 2024. However, the total assets under management (AuM) have only increased by about 10% this year, implying that, after considering capital inflows, ordinary investors have not gained significant actual returns this year. This phenomenon reflects the erosion of returns due to price volatility and a decline in capital allocation efficiency.

Looking at regional capital flows, the United States remains the primary source of outflows, with a net outflow of $460 million last week, indicating ongoing de-risking in the North American market amid uncertainty. Switzerland also experienced capital outflows, amounting to approximately $14.2 million. In contrast, Germany has become one of the bright spots, attracting $35.7 million in inflows last week. Since the beginning of this month, Germany’s cumulative inflow has reached $248 million, making it the country with the largest net capital inflow this month, showing that some European investors are taking advantage of recent price weakness for medium- to long-term positioning.

At the asset level, XRP ETF and Solana ETF performed particularly well. Last week, XRP saw $70.2 million in inflows, while Solana attracted $7.5 million. Since their launch in the US market in mid-October, these two ETFs have cumulatively attracted approximately $1.07 billion and $1.34 billion, respectively, significantly outperforming the broader market sentiment. In stark contrast, Bitcoin and Ethereum experienced outflows of $443 million and $59.5 million last week. Since the launch of related ETFs, the total outflows have reached $2.8 billion and $1.6 billion, respectively.

Overall, the current digital asset capital flows show a clear divergence. Bitcoin and Ethereum are under significant pressure, while the continued inflows into XRP ETF and Solana ETF reflect a rising market preference for high-volatility assets and structural themes. In the short term, selective regional buying and asset rotation will remain important variables influencing the direction of the crypto market.