$446M exits crypto funds, but XRP and Solana ETFs buck the trend

Crypto funds faced continued selling pressure last week, recording $446 million in net outflows.

The losses brought total redemptions since October 10 to $3.2 billion. Data from CoinShares shows year-to-date flows remain at $46.3 billion, broadly in line with 2024’s $48.7 billion, while assets under management increased just 10% year-to-date.

United States leads crypto funds outflows

Crypto funds outflows were concentrated in the United States, which recorded $460 million in redemptions during the week. The losses accounted for over 100% of total weekly outflows. Switzerland posted $14.2 million in outflows, while other regions saw minimal activity.

Germany stood out as the notable exception, attracting $35.7 million in inflows during the week. German investors have now contributed $248 million in inflows for December, making it the largest source of positive flows this month.

The regional data shows broad-based weakness across most markets. Australia recorded near-zero flows at -$0.04 million. Brazil saw $1 million in outflows. Canada posted $2.9 million in redemptions. Hong Kong attracted $0.9 million in inflows. Sweden recorded $3.7 million in outflows. Total assets under management across all crypto funds stood at $174.2 billion.

iShares and Grayscale lead provider outflows

Grayscale Investments had weekly outflows of $115 million. Losses of $211 million month to date pushed year-to-date flows to -$3.2 billion. Total AUM stood at $24.8 billion, while it remained the second-largest provider.

Fidelity Wise Origin Bitcoin Fund had weekly outflows of $111 million. Month-to-date flows were still positive at $69 million, while year-to-date inflows amounted to $385 million. In total, AUM reached $17.6 billion. Bitwise Funds Trust witnessed an outflow of $66 million during the week, while month-to-date outflows were $140 million and year-to-date losses were $52 million.

ARK 21 Shares saw $31 million in weekly redemptions lift month-to-date outflows to $221 million and year-to-date losses to $863 million. Meanwhile, 21Shares AG saw mere outflows of $2 million on the week.

ProShares ETFs/USA and Volatility Shares Trust bucked the trend with positive weekly flows. ProShares pulled in $26 million, taking MTD inflows to $278 million and YTD flows to $2.2 billion. Meanwhile, Volatility Shares came in with $25 million in weekly inflows, marking MTD gains of $263 million and taking YTD inflows to $1.5 billion.

XRP and Solana products attract capital

XRP products saw $70.2 million in weekly inflows, extending the streak of positive flows. Since the mid-October ETF launches in the United States, XRP crypto funds have seen $1.07 billion in cumulative inflows. Month-to-date flows were at $424.8 million, while year-to-date inflows stood at $3.3 billion. In total, AUM stood at $2.9 billion.

Solana products saw $7.5 million in weekly inflows. Since the ETF launches of mid-October, Solana crypto funds have seen $1.34 billion in cumulative inflows. Month-to-date flows were $124.8 million while year-to-date inflows were $3.5 billion. Total AUM reached $3.1 billion.

Sustained losses in Bitcoin and Ethereum funds

Bitcoin products saw $443 million in outflows this week. Since XRP and Solana ETFs launched mid-October, Bitcoin crypto funds have witnessed $2.8 billion in cumulative redemptions. Month-to-date losses reached $25 million, while year-to-date flows stood at $26.8 billion. Total AUM stood at $136.2 billion.

Ethereum products saw $59.3 million in outflows this week. Since the mid-October launch of competing ETFs, crypto funds have seen $1.6 billion in cumulative losses for Ethereum. Month-to-date redemptions reached $241 million, while year-to-date flows were at $12.7 billion. Total AUM stood at $24.1 billion.

Other multi-asset products witnessed an outflow of $27.2 million in the week, and losses have reached $193.3 million month-to-date. Year-to-date redemptions stand at $190 million. All other products, including Chainlink, Short Bitcoin, and Litecoin, had mixed flows with a minimal impact on the overall picture.