Digital asset fund flows | January 26th, 2026

Digital asset products see sharp outflows as bearish sentiment persists

• Digital asset investment products recorded US$1.73bn in outflows, the largest since mid-November 2025.

• Outflows were concentrated in the US at nearly US$1.8bn, while Switzerland, Germany, and Canada saw inflows.

• Bitcoin and Ethereum led outflows at US$1.09bn and US$630m respectively, signalling broad-based negative sentiment, although Solana saw inflows of US$17.1m, bucking the trend.

Digital asset investment products recorded the largest outflows since mid-November 2025 totalling US$1.73bn, reflecting similar bearish sentiment during market downturns. Dwindling expectations for interest rate cuts, negative price momentum and disappointment that digital assets have not participated in the debasement trade yet have likely fuelled these outflows.

Regionally, the outflows were focussed on the US which saw nearly US$1.8bn in outflows, while sentiment was more mixed in other regions, with Sweden and the Netherlands following the US with minor outflows of US$11.1m and US$4.4m respectively. Switzerland, Germany and Canada saw the recent price weakness as an opportunity to add to long positions, with inflows of US$32.5m, US$19.1m and US$33.5m respectively.

Bitcoin saw outflows totalling US$1.09bn, the largest since mid-November 2025, but we saw minor inflows to short-bitcoin investment products that totalled US$0.5m. Regardless, it indicates sentiment has still not improved since 10^th October 2025 price crash.

Ethereum and XRP saw outflows totalling US$630m and US$18.2m respectively, highlighting negative sentiment was broad-based. Solana bucked this trend with inflows of US$17.1m, while others saw minor inflows, notably Binance (US$4.6m) and Chainlink (US$3.8m).