Crypto investment products witnessed a second consecutive week of significant outflows, totaling $1.17 billion, according to a CoinShares report dated November 10, 2025. This marks the largest weekly outflow since March 2024, with U.S. products leading the sell-off by accounting for $1.22 billion in exits.
Bitcoin (BTC) and Ethereum (ETH) bore the brunt of the redemptions, with Bitcoin products seeing $932 million withdrawn and Ethereum facing $438 million in outflows. The negative sentiment was exacerbated by political uncertainty, as a brief intraday rebound on hopes of a U.S. government shutdown resolution was quickly reversed by renewed outflows on Friday.
James Butterfill, Head of Research at CoinShares, stated in the report, "ETP Trading volumes remained elevated at US$43bn for the week as flows on an intraday basis briefly recovered on Thursday as optimism grew that progress was being made toward resolving the US government shutdown, but this proved short-lived, with renewed outflows emerging on Friday as those hopes faded."
Amid the broad decline, defensive strategies emerged, with short Bitcoin ETPs attracting $11.8 million in inflows—the highest weekly inflow for bearish Bitcoin bets since May. In contrast, altcoins defied the trend, with Solana (SOL) drawing $118 million in inflows, bringing its nine-week total to $2.1 billion. Hedera (HBAR) and Hyperliquid (HYPE) also posted gains of $26.8 million and $4.2 million, respectively.
Regional disparities were notable, with European investors showing resilience: Germany and Switzerland recorded inflows of $41.3 million and $49.7 million, underscoring a transatlantic divide in market response.