Digital asset fund flows | February 2nd, 2026

Investor sentiment deteriorates as outflows accelerate

• Digital asset products saw US$1.7bn of weekly outflows, flipping YTD flows to a net outflow of US$1bn and driving a US$73bn fall in AuM since October 2025 highs.

• Outflows were heavily concentrated in the US at US$1.65bn, with broadly negative sentiment across regions and major assets, led by Bitcoin and Ethereum.

• Short Bitcoin and Hype products were notable exceptions, benefiting from defensive positioning and tokenised precious metals activity respectively.

Digital asset investment products recorded a second consecutive week of outflows, totalling US$1.7bn. This has reversed year-to-date inflows, leaving net YTD flows at a global outflow of US$1bn, signalling a marked deterioration in investor sentiment towards the asset class. We believe this reflects a combination of factors, including the appointment of a more hawkish US Federal Reserve Chair, continued whale selling associated with the four-year cycle, and heightened geopolitical volatility. Since the price highs in October 2025, we have seen total assets under management (AuM) fall by US$73bn.

Regionally, the US saw US$1.65bn in outflows, with similar negative sentiment in Canada and Sweden which also saw outflows of US$37.3m and US$18.9m respectively. Very minor inflows were seen in Switzerland (US$11.0m) and Germany (US$4.3m).

Across the assets negative sentiment was broad, with Bitcoin seeing US$1.32bn in outflows, Ethereum saw US$308m, while recent favourites XRP and Solana also saw outflows of US$43.7m and US$31.7m respectively. Short bitcoin saw inflows totalling US$14.5m, with a YTD rise in AuM of 8.1%.

Hype investment products, were a bright spot, seeing US$15.5m inflows, benefitting from recent on-chain sales frenzy in tokenised precious metals.