XRP & SOL ETFs Defy Crypto Slump as Bitcoin Sees Major Outflows

The latest CoinShares Digital Asset Fund Flows Weekly Report reveals a dramatic divergence in investor behavior. Last week, XRP investment products attracted a substantial $70.2 million, while Solana funds added $7.5 million. This positive momentum is not a flash in the pan; since their ETF launches in the United States in mid-October, XRP has drawn a cumulative $1.14 billion and Solana has pulled in an even larger $1.34 billion. This sustained interest stands in direct opposition to the prevailing negative sentiment engulfing the crypto market.

Conversely, the market’s traditional bellwethers faced significant redemptions. Bitcoin products lost $443 million last week alone, and Ethereum saw $59.5 million exit. The scale of the shift is even more pronounced over the longer term: since the October ETF launches, Bitcoin has recorded a staggering $2.8 billion in outflows, with Ethereum shedding $1.6 billion. The trend extended to multi-asset crypto funds, which fell by $27.2 million, though Chainlink managed to attract a modest $2.1 million.

Zooming out, the picture remains bleak for the overall sector. Digital asset investment products recorded $446 million in net outflows last week, bringing total withdrawals since the sharp market drop on October 10 to a massive $3.2 billion. This persistent selling pressure indicates that investor confidence has yet to recover from the recent downturn, creating a challenging environment for most crypto assets.

The selling activity was widespread but not uniform across global regions. The United States, the world’s largest crypto market, led the outflows with a substantial $460 million withdrawn from digital asset products last week. Switzerland also recorded minor losses of $14.2 million, while Sweden, Canada, and Brazil shed $3.7 million, $2.9 million, and $1 million, respectively.

Germany emerged as the prominent outlier, bucking the global trend by adding $35.7 million in inflows over the same period. Hong Kong settled for a modest net positive of $0.9 million. With $248 million recorded so far this month, Germany now leads in terms of regional totals, positioning itself as a relative bastion of stability amid the recent market weakness. This geographic split suggests that regulatory environments and local investor sentiment are playing critical roles in shaping capital flows.

While recent weekly flows appear weak, the year-to-date data provides crucial context and a more balanced narrative. Total inflows for the year stand at $46.3 billion, a figure that remains close to the $48.7 billion recorded over the same period in 2024. However, this robust annual inflow masks a concerning detail: total assets under management have increased by only 10% so far this year. This discrepancy potentially indicates that, despite steady new investment, many investors have not seen meaningful portfolio gains once overall market performance is taken into account.

This context of muted gains aligns with the volatility observed in the spot markets. In the final week of 2025, the crypto market attempted a fragile recovery. Major assets posted brief gains before pulling back. Bitcoin climbed above the $90,000 threshold but quickly fell to $87,603. Ethereum followed a similar pattern, rising to $3,051 before slipping close to $2,950. Mirroring the ETF flow strength, XRP briefly reached $1.91 before easing to $1.87, while Solana advanced to $129 only to retreat near $123. This price action underscores the fragile and tentative nature of the current market sentiment, where even positive moves are quickly met with selling pressure.