Digital assets: outflows of $1.47 billion, but positive signals from altcoins

Digital assets posted outflows of $1.47 billion, the second straight week of net withdrawals and the third‑largest weekly outflow of 2026, surpassed only by two weeks in late January when outflows reached $1.7 billion. Cumulative outflows over the past two weeks now total $2.54 billion, suggesting that the “risk‑off” climate tied to geopolitical tensions with Iran has intensified and broadened despite ongoing progress on the CLARITY Act.

Nine assets continued to attract meaningful inflows exceeding $1 million, although participation fell short of the 11 assets that saw inflows in the prior week.

Geographic breakdown
The United States remained the primary source of outflows, with withdrawals amounting to $1.425 billion. The risk‑off mood, however, extended well beyond the U.S. during the week: Switzerland recorded outflows of $16.2 million, Canada $12.5 million, and Hong Kong $12.2 million, while Germany’s figures were essentially unchanged.

Asset‑specific flows

Bitcoin experienced outflows of $1.315 billion, the most negative weekly figure recorded in 2026 and higher than the levels seen at the end of January. Year‑to‑date net flows now stand at $2.6 billion, down from $3.9 billion the week before, highlighting how quickly cumulative positioning can shrink in risk‑averse environments.
Ethereum saw outflows of $222.8 million, roughly in line with the previous week.
Altcoins continued to attract selective inflows, albeit on a smaller scale than the prior week: XRP drew $31.8 million, Near $9.0 million (notable given its $74 million in assets under management), Solana $7.7 million, Sui $2.9 million, and multi‑asset products $4.7 million.

Analysis by James Butterfill, Head of Research at CoinShares,

Nine assets continued to attract meaningful inflows exceeding $1 million, although participation fell short of the 11 assets that saw inflows in the prior week.

Asset‑specific flows

Bitcoin experienced outflows of $1.315 billion, the most negative weekly figure recorded in 2026 and higher than the levels seen at the end of January. Year‑to‑date net flows now stand at $2.6 billion, down from $3.9 billion the week before, highlighting how quickly cumulative positioning can shrink in risk‑averse environments.
Ethereum saw outflows of $222.8 million, roughly in line with the previous week.
Altcoins continued to attract selective inflows, albeit on a smaller scale than the prior week: XRP drew $31.8 million, Near $9.0 million (notable given its $74 million in assets under management), Solana $7.7 million, Sui $2.9 million, and multi‑asset products $4.7 million.

Analysis by James Butterfill, Head of Research at CoinShares,