From May 11 to 15, cryptocurrency investment products experienced outflows of $1.07 billion, marking the first outflow in seven weeks and the third largest of 2026.

Crypto ETPs and ETFs saw outflows of US$1.1B last week. @Bitcoin saw US$982M of outflows. @ethereum saw outflows of US$249M, its largest since January 30. Altcoins held up notably well. XRP (@Ripple) recorded US$67.6M of inflows and @solana US$55.1M, both accelerating on… pic.twitter.com/EJjwcZqzMu

— CoinShares (@CoinSharesCo) May 18, 2026

According to a report by CoinShares, the total assets under management fell from $159 billion to $157 billion. The primary impact was on Bitcoin and Ethereum, although some altcoins continued to attract capital. Analysts attributed the market pressure to investor concerns about risky investments due to escalating tensions surrounding Iran.

Bitcoin and Ethereum Lead Outflows

Funds based on the first cryptocurrency lost $982 million. Year-to-date, net inflows into these products have decreased to $3.9 billion.

Ethereum funds recorded outflows of $249 million, the largest since January 30. Blockchain company ETFs also faced pressure, with investors pulling out $133 million.

CoinShares noted that negative sentiment intensified amid geopolitical tensions surrounding Iran. However, discussions around the CLARITY Act in the U.S. partially supported the market, as crypto funds even showed a positive daily inflow of $174 million on Thursday.

Investors Shift to Altcoins

Despite the overall outflow, several digital assets demonstrated resilient demand. Significant inflows were recorded for:

  • XRP — $67.6 million;
  • Solana — $55.1 million;
  • Toncoin — $7.7 million;
  • Sui — $4.7 million;
  • Ondo — $4.1 million;
  • Chainlink — $3.9 million;
  • Dogecoin — $3.2 million.

In total, 11 assets recorded positive capital flows, which analysts interpreted as a sign of a more selective approach by investors.

U.S. Sells, Europe Buys

The majority of outflows came from the U.S. — $1.14 billion. Meanwhile, European investors maintained a positive outlook:

  • Switzerland attracted $22.8 million;
  • Germany — $22 million;
  • The Netherlands — $7.5 million.

Conversely, Canada recorded an outflow of $12.6 million.

As a reminder, from May 4 to 8, inflows into exchange-traded cryptocurrency products totaled $857.9 million.