Digital asset fund flows | November 24th, 2025

High outflows of US$1.9B, although tentative sighs of a turn in sentiment

• Digital asset investment products saw US$1.94B of outflows last week, bringing the four-week total to US$4.92B, the third largest outflow run since 2018.

• Bitcoin and Ethereum led the outflows, although both showed signs of recovery on Friday, while Short Bitcoin continued to see strong inflows.

• Among altcoins, Solana recorded US$156M of outflows, while XRP bucked the trend with US$89.3M of inflows.

Digital asset investment products saw outflows totalling US1.94B, marking the 4^th consecutive week of outflows now totalling US$4.92B, representing 2.9% of total assets under management (AuM). Proportionally this represents the 3^rd largest run of outflows since 2018, beaten only by March 2025 and February 2018, marking a 36% decline in AuM representing the combined impact of inflows and price. Despite this, total inflows this year so far remain high at US$44.4B. 

The final trading day of last week signalled tentative signs of a turnaround in sentiment with minor inflows of US$258M following 7 consecutive days of outflows.

Bitcoin saw the majority of outflows totalling US$1.27B last week but also saw the largest rebound on Friday with US$225M inflows. Short Bitcoin remains popular, seeing US$19M inflows, and has seen inflows of US$40m over the last 3 weeks representing 23% of AuM, seeing its AuM rise an astonishing 119%.

Ethereum saw outflows totalling US$589M. having suffered more over the last week with outflows representing 7.3% of AuM, it too staged a minor recovery on Friday with inflows of US$57.5M. Solana saw outflows of US$156M, while XRP bucked the trend with inflows of US$89.3M last week.