Digital asset investment and trading firm CoinShares has published the latest edition of its digital asset fund flows report, revealing that investment products in the sector experienced a second consecutive week of outflows, totaling approximately $1.17 billion.
This continued decline reflects pervasive negative sentiment in the markets, driven by ongoing volatility following the liquidity cascade of October 10th and uncertainty surrounding a potential interest rate cut in the United States in December.
CoinShares noted that despite the outflows, trading activity in exchange-traded products (ETPs) remained high, reaching $43 billion for the week. Intraday flows briefly showed signs of recovery on Thursday, fueled by optimism that progress was being made toward resolving the US government shutdown.
However, these gains were short-lived, and renewed outflows returned on Friday as those expectations diminished.
The firm further stated that a continued divergence persists between the United States and Europe in digital asset fund flows, with the US experiencing outflows of approximately $1.22 billion, reflecting the broader negative market sentiment. In contrast, Germany and Switzerland continued to see inflows, totaling $41.3 million and $49.7 million, respectively.
Bitcoin remained the primary focus of investor activity, recording outflows of $932 million last week. Conversely, short Bitcoin ETPs attracted inflows of $11.8 million, following similar inflows in recent weeks, marking the highest weekly figures since May 2025.
Ethereum also experienced outflows, totaling $438 million. Meanwhile, altcoins demonstrated resilience, with Solana receiving $118 million in inflows last week and accumulating $2.1 billion over the past nine weeks. Other notable inflows were observed in HBAR, totaling $26.8 million, and Hyperliquid, which attracted $4.2 million.
Last week, Bitcoin and Ethereum declined by 5.3% and 8.4%, respectively, before showing signs of recovery on Sunday, a momentum that carried into early Monday trading amid optimism surrounding a potential resolution to the U.S. government shutdown. At the time of writing, Bitcoin is trading at $105,945 and Ethereum at $3,591, based on data from CoinMarketCap.
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