Short Bitcoin products attracted $10 million in fresh money last week — a sign that some traders were actively betting against the world’s largest cryptocurrency as broader selling took hold across global crypto funds.
Selling Spreads Across Borders
The United States led the retreat, with $1.43 billion pulled from crypto exchange-traded products, including $1.26 billion from US-listed spot Bitcoin ETFs.
Switzerland and Canada followed with outflows of $16 million and $12.5 million, while Hong Kong and Germany shed $12 million and $4.4 million, respectively.
The Netherlands stood out as the only market to post notable gains, drawing $6.6 million in fresh capital, with Australia adding a modest $700,000.
Total withdrawals for the week reached $1.47 billion, according to CoinShares — extending the prior week’s $1.07 billion in outflows.
Assets under management across all crypto ETPs closed the week at roughly $148 billion, with Bitcoin funds accounting for 80% of that figure at $120 billion.
Bitcoin Takes The Brunt
Bitcoin products bore the heaviest losses, recording about $1.3 billion in outflows — their worst weekly showing of 2026. Ether funds lost $223 million over the same period.
CoinShares head of research James Butterfill pointed to Iran-related tensions as the main force driving risk-averse behavior among investors, even as US crypto legislation continued to advance on Capitol Hill.
Not every asset lost ground. Nine cryptocurrencies posted inflows above $1 million. XRP led the pack with $31.8 million in fresh investment, while Solana pulled in $7.7 million. Smaller but still positive flows were recorded for Sui and Chainlink, at $600,000 and $400,000.
Hyperliquid Bucks The Trend
Data from SoSoValue showed Hyperliquid ETFs drew a little over $72 million in inflows — one of the more striking figures from a week otherwise defined by exits.
The numbers suggest that while institutional money was stepping back from Bitcoin and Ether, appetite for newer and smaller assets remained intact in pockets of the market.
The week marked a shift from the previous period, when European markets had shown relative steadiness against outflows concentrated elsewhere.
This time, the selling was more broadly distributed, touching most major markets simultaneously.
Reports from CoinShares indicate the pattern reflected a wider mood shift among investors rather than pressure specific to any single region or product.
Featured image from Pexels, chart from TradingView