Digital Asset Products See $2B Outflows as 3-Week Rout Drains $3.2B

Digital asset investment products suffered their heaviest weekly outflows since February, with $2 billion exiting the market last week.

The sell-off marked the third consecutive week of withdrawals, bringing total outflows over the period to $3.2 billion, according to a Monday report from CoinShares.

The slump follows sharp price declines across major cryptocurrencies, which have pushed total assets under management in digital asset ETPs down 27% from their early-October peak of $264 billion to $191 billion.

Whale Selling and Fed Uncertainty Blamed for Crypto Market Slide

Analysts cited ongoing monetary policy uncertainty and aggressive selling from crypto-native whale wallets as the main drivers behind the downturn.

The US accounted for the overwhelming share of outflows, with $1.97 billion leaving U.S.-based products.

Switzerland and Hong Kong followed at a distance, recording $39.9 million and $12.3 million in outflows.

Germany stood out as the lone bright spot, attracting $13.2 million in inflows as local investors treated the correction as a buying opportunity.

Bitcoin products saw the largest withdrawals, shedding $1.38 billion last week, a three-week bleed equal to roughly 2% of total Bitcoin ETP assets under management.

Ethereum fared even worse on a proportional basis, with $689 million in outflows representing 4% of its ETP market. Solana and XRP recorded smaller pullbacks of $8.3 million and $15.5 million.

Despite the broader risk-off sentiment, multi-asset investment products attracted $69 million in inflows over the past three weeks as investors sought diversification.

Short-Bitcoin ETPs also saw renewed interest as traders positioned defensively amid the ongoing correction.

Last week, Bitcoin ETFs recorded $1.11 billion net outflows.

ETH ETFs recorded $728.57 million net outflows. 👀 pic.twitter.com/bnZA8jgEKh

— Crypto Crib (@Crypto_Crib_) November 17, 2025

US Bitcoin ETFs See $1.1B Weekly Outflows

Meanwhile, US spot Bitcoin ETFs recorded their third straight week of losses, with investors pulling $1.1 billion from the products, the fourth-largest weekly outflow on record.

The withdrawals coincided with a sharp market correction, as Bitcoin slid nearly 10% to around $95,740, raising concerns that one of the asset’s strongest institutional demand engines is slowing.

According to Matrixport, the downturn reflects weakening market momentum, fading ETF inflows, and reduced exposure from long-term holders, all unfolding in an environment with no immediate macro catalysts.

The firm described the situation as the beginning of a “mini bear market,” adding that Bitcoin’s next major move will likely depend on upcoming Federal Reserve policy decisions.

📃#MatrixOnTarget Report – November 14, 2025 ⬇️

Signals to Watch in Bitcoin’s Mini-Bear Market#Matrixport #Bitcoin #CryptoMarkets #MarketCycle#OnchainData #BTCFlows #RiskManagement #MatrixOnTarget pic.twitter.com/6yHv8t6vsI

— Matrixport Official (@Matrixport_EN) November 14, 2025

While Bitcoin and Ether ETFs struggled, spot Solana ETFs continued to attract capital, posting $12 million in inflows on Friday and extending their streak to 13 consecutive days since launching on Oct. 29.

Despite the divergence in ETF flows, Solana still fell 15% over the week, while Ether dropped 11%, underscoring broad weakness across crypto markets.