Yeliz Akmaca 
Crypto markets entered last week on a strong footing as capital flowed back into digital asset investment products. Total inflows reached $2.17 billion, marking the highest weekly figure since October 10, 2025. Early optimism, however, failed to hold. A sharp $378 million outflow on Friday reversed the picture and pushed risk concerns back to the forefront.
Rising diplomatic tensions involving Greenland added to market unease. At the same time, renewed threats of additional trade tariffs resurfaced. Shifting expectations around the future leadership of the US Federal Reserve further unsettled sentiment. Reports suggesting that Kevin Hassett would remain in his current role rather than move toward the Fed chair reshaped views on the policy outlook.
Bitcoin Carried the Market
According to CoinShares’ weekly Digital Asset Fund Flows report, the bulk of inflows was concentrated in Bitcoin. Bitcoin investment products recorded $1.55 billion in net inflows, clearly leading the market. Despite ongoing regulatory uncertainty and debate around the US Senate Banking Committee’s CLARITY Act, capital continued to move into major crypto assets.
Ethereum products attracted $496 million, while XRP-related products saw $69.5 million in inflows. Even as potential restrictions on yield-generating stablecoin structures were discussed, demand for core assets remained resilient. This suggests that investors are, for now, sidelining near-term regulatory risks.
Selective Buying Sharpened Altcoin Divergence
Altcoin flows painted a more selective picture. XRP-linked products stood out with $45.5 million in inflows. Sui added $5.7 million, followed by Lido with $3.7 million and Hedera with $2.6 million. Litecoin and Chainlink also posted modest gains of $2.3 million and $1.2 million, respectively.
In contrast, multi-asset investment products recorded $12.5 million in outflows. This pattern points to investors trimming complexity and favoring clearer, single-asset exposure as perceived risk increases.
Capital Concentrated in the US
Regionally, flows were heavily skewed toward the United States. US-based products attracted $2.05 billion, making it the clear center of gravity for the week. Germany followed with $63.9 million, while Switzerland recorded $41.6 million. Canada and the Netherlands also posted smaller but positive inflows.
Elsewhere, sentiment diverged. Sweden saw more than $4 million in outflows, while Brazil recorded withdrawals of around $1 million. The contrast highlights how regional risk perceptions are increasingly shaping global crypto allocation decisions.
Risk Appetite Back Under Pressure
Friday’s reversal is now being interpreted as part of a broader shift toward risk-off positioning. Mercury Co-Founder and CEO Petr Kozyakov noted that market optimism appeared fragile, likening conditions to “thin ice.” Bitcoin’s pullback toward the $93,000 level, combined with sharp selling during Asian trading hours, erased a significant portion of year-to-date gains.
Heavy liquidations across derivatives markets underscored how exposed positioning had become. As global equity markets also moved lower, investors rotated toward traditional safe havens such as gold and silver. Once again, crypto markets found themselves trading under the shadow of macroeconomic risk.
At this stage, the key question is no longer the size of recent inflows, but how much of that capital will remain in place. With geopolitical tensions and monetary policy expectations still unresolved, sustained confidence may prove difficult. In the days ahead, both flows — and the absence of them — are likely to carry equal weight.
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