The crypto market continues to experience a phase of high volatility, marked by contrasting capital flows and increasingly influential macroeconomic dynamics.
This is what emerges from the weekly report published by CoinShares, the leading European company in digital asset investments, which depicts a still uncertain landscape but with interesting insights for analysts and investors.
The crypto market records outflows of 795 million dollars
The week closed with a figure that is anything but encouraging for the crypto market: outflows amounting to 795 million dollars, marking the third consecutive week in the red. This is a bear trend that started in February 2025, which has now brought the total outflows since the beginning of the year to 7.2 billion dollars. However, thanks to the strong inflows in January, the net balance since the beginning of the year remains slightly positive, with a total balance of 165 million dollars.
This trend highlights the fragility of the crypto market, still exposed to external variables such as international trade policies. In particular, the impact of the U.S. customs policies has been strongly felt by investors, pushing them towards greater caution.
Global assets under management rise thanks to the rebound in prices
Despite the strong outflows, the overall value of assets under management (AuM) rose by 8% in just one week, reaching 130 billion dollars. This is a significant recovery compared to the low on April 8, when the market had reached its lowest point since November 2024.
The main factor driving this rebound was the temporary revision of the USA tariffs announced by the Trump administration, which had a positive effect on the prices of major cryptocurrencies. This demonstrates once again how sensitive the crypto market is not only to technological developments but also, and especially, to macroeconomic and geopolitical factors.
Bitcoin drags the crypto market down
In the detail of the assets, Bitcoin was the main responsible for the weekly outflows, with as much as 751 million dollars exiting. Despite this, the net flows since the beginning of the year for the queen of the crypto market remain positive, with a balance of 545 million dollars.
The data becomes even more significant when considering that outflows on Bitcoin have been observed in multiple regions of the world, indicating a widespread negative sentiment among investors. Even short-Bitcoin funds, those that bet on the downside, have recorded outflows of 4.6 million, a sign that confidence in the crypto market is experiencing a moment of strategic reassessment, rather than a true bull or bear exodus.
Ethereum and altcoin: mixed trend in the crypto market
The second most important asset with negative flows is Ethereum, with 37.6 million dollars exiting during the week. Other significant tokens in the crypto market follow, such as Solana (-5.1 million), Aave (-0.78 million), and Sui (-0.58 million), all sharing a slowdown in investor confidence.
However, some altcoins have managed to swim against the current, reporting positive inflows. Leading the way is XRP, with 3.5 million dollars coming in, followed by Ondo (+0.46 million), Algorand (+0.25 million), and Avalanche (+0.25 million). This shows that, even in a phase of correction in the crypto market, there are selective opportunities for the more attentive capital.
Geographic Analysis: the United States Lead the Crypto Market Outflows
From the point of view of the geographical distribution of flows, the US crypto market is confirmed as the most influential but also the most vulnerable: as much as 763 million dollars of the weekly outflows come from funds domiciled in the United States.
Following are Switzerland (-11.9 million), Sweden (-6.8 million), Hong Kong (-11.2 million), and Germany (-4.4 million), demonstrating widespread pressure in the main regulated markets. On the other hand, countries like Canada (+2.1 million), Brazil (+0.2 million), and Australia (+0.4 million) show better resilience, albeit with smaller numbers.
ETP Sector and Blockchain Equity: Performance in Decline
The CoinShares report also analyzes the sector of ETPs and ETFs linked to blockchain, an important segment within the broader ecosystem of the crypto market. Here the data is clear: total outflows of 30 million dollars, driven mainly by US funds.
Among the funds that have lost the most value, we find the Amplify Transformational Data Sharing ETF (-12.2 million), the Invesco CoinShares Global Blockchain ETF (-6.1 million), and the VanEck Crypto and Blockchain Innovators ETF (-5.6 million). On the other hand, the Valkyrie Bitcoin Miners ETF recorded inflows (+0.9 million), a sign that some investors are still betting on the infrastructure component of the crypto sector.
“`html
Final considerations: caution, but not panic
“`
In summary, the weekly report from CoinShares offers a multifaceted portrait of the crypto market: on one hand, outflows continue to dominate the short term, while on the other hand, the rise in assets under management and the resilience of some alternative assets suggest that investors are not abandoning the sector but are rather recalibrating their strategies.
The crypto market is therefore confirmed to be extremely reactive, influenced by global dynamics, regulations, and political factors. Uncertainty remains high, but for those who know how to read the right signals, new windows of opportunity may open in the coming weeks.
