Key Takeaways
Institutional investors pulled $1.67 billion from crypto exchange-traded products last week, extending the redemption streak to three weeks and marking the second-largest weekly outflow of 2026.
Global crypto ETPs recorded $1.67 billion in net outflows for the week ending May 30, bringing three-week cumulative redemptions to $4.21 billion, according to CoinShares' latest fund flows report published Monday. Total assets under management fell to $141 billion, the lowest level since early April.
"The pattern is reminiscent of the January-February episode that delivered five consecutive negative weeks," James Butterfill, head of research at CoinShares, said. He attributed the sustained outflow streak to Iran-related risk-off sentiment overwhelming any cushioning effect from legislative progress on the Clarity Act.
Bitcoin ETPs led the retreat with $1.44 billion in outflows, the largest weekly Bitcoin redemption of 2026 and exceeding the prior week's record. US-listed spot Bitcoin ETFs accounted for $1.42 billion of that total, according to SoSoValue data, marking the third-highest weekly outflow on record for that segment. Year-to-date Bitcoin fund inflows have compressed sharply to $1.2 billion from $2.6 billion the week prior. Ether funds continued their losing streak with $257.3 million in outflows, bringing year-to-date losses to $346 million.
Altcoin divergence narrows as selective buying persists
Not every digital asset moved in the same direction. Altcoin participation collapsed to just five assets recording meaningful inflows above $1 million, down from nine a week earlier, Butterfill said. XRP led positive momentum with $20.3 million in inflows, followed by Hyperliquid at $10.8 million and Near at $7.6 million. The Netherlands was the only country to record inflows above $1 million, at $1.3 million, down from $6.6 million the prior week.
Regionally, the US drove the global outflow story with $1.63 billion of redemptions. Germany joined the selloff with $25.7 million in outflows after holding up through prior episodes, while Sweden and Hong Kong saw $6.6 million and $4.5 million in outflows, respectively.
The selloff came without a clear near-term catalyst and was compounded by underperforming equities, according to the derivatives desk at Laser Digital. Strategy, the largest corporate Bitcoin holder, did not purchase any BTC between May 18 and May 24, the company disclosed, adding to the demand-side weakness. "With STRC still trading below par and the continued lack of interest from retail buyers, BTC is expected to remain weak for the time being," the desk said.
The three-week outflow streak has erased much of the institutional inflows accumulated during the first quarter, when Bitcoin ETPs drew more than $2.6 billion. The next test for sentiment comes this week as the US ISM Manufacturing PMI for May is released June 1, followed by nonfarm payrolls data on June 5, which will shape expectations for the Federal Reserve's next policy move.
This article is for informational purposes only and does not constitute investment advice.
