Crypto ETPs see reduced outflows, hinting at possible market bottom

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Yaroslav Dmytrenko

09.02.2026

Crypto ETPs see reduced outflows, hinting at possible market bottom — Crypto ETP outflows slow sharply as trading volume hits record

Cryptocurrency investment products recorded outflows for the third consecutive week, although the pace of selling slowed markedly amid signs of stabilization after a sharp downturn.

Crypto exchange-traded products (ETPs) saw weekly outflows of $187 million in the week ending February 6, a sharp decline compared with the $3.43 billion recorded over the previous two weeks, Cointelegraph reported on Monday, citing CoinShares data.

At the same time, trading volumes reached a record $63 billion, which analysts say points to a “potential market bottom.”

The slowdown came as Bitcoin (BTC) fell to its lowest level since November 2024, briefly touching $60,000 last Thursday.

“While flows typically move in line with crypto prices, changes in the pace of outflows have historically been more informative, often signaling turning points in investor sentiment,” said James Butterfill, Head of Research at CoinShares.

Bitcoin-based investment products were the only ETP group to record significant losses last week, with outflows totaling $264.4 million. In contrast, XRP funds led inflows, attracting $63 million, while other altcoin ETPs such as Ether (ETH) and Solana (SOL) posted modest gains of $5.3 million and $8.2 million, respectively.

Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

Have ETPs formed a bottom?

According to SoSoValue, a significant portion of last week’s outflows from Bitcoin ETPs came from spot Bitcoin ETFs, which recorded $318 million in withdrawals.

Weekly Bitcoin ETF flows year-to-date. Source: SoSoValue

Commenting on the slowdown in outflows, Butterfill suggested that a “potential market bottom may have been reached,” implying that crypto ETPs could be forming a base.

Despite easing outflows, last week marked an important milestone in trading activity. Butterfill noted that ETP trading volumes hit a record $63.1 billion, surpassing the previous high of $56.4 billion set in October last year.

After three consecutive weeks of outflows, crypto ETPs have lost a total of $1.2 billion year-to-date, compared with $1.9 billion in outflows from Bitcoin ETFs.

Meanwhile, total assets under management (AUM) in crypto ETPs fell to $129 billion, the lowest level since March 2025.

As we wrote, Bitcoin volatility overwhelms returns as Sharpe ratio drops into deep bear territory

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