On December 22, CoinShares reported that digital asset investment products faced $952 million in outflows last week.
The company stated that investor confidence fell following delays to the Digital Asset Market Clarity Act, also known as the Clarity Act.
According to the report, most of the withdrawals came from exchange-traded products (ETPs) linked to major cryptocurrencies. Ethereum funds saw $555 million in redemptions, while Bitcoin products lost $460 million.
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CoinShares said the uncertainty caused by the postponed legislation has kept investors cautious and triggered some large-scale selling.
The firm also noted that this setback will likely prevent crypto ETPs from matching last year’s inflows. Assets under management now stand at $46.7 billion, down from $48.7 billion in 2024.
Outflows were concentrated in the United States, which accounted for $990 million of the total. Smaller inflows in other regions, $46 million from Canada and $15.6 million from Germany.
CoinShares’ head of research, James Butterfill, said investor sentiment weakened mainly due to the delay. He pointed out that Ethereum’s decline was expected since its performance is closely tied to the potential outcomes of the Clarity Act.
Butterfill wrote, “Ethereum saw the largest outflows, which totaled $555 million. This is understandable given it has the most to gain or lose from the Clarity Act”.
Meanwhile, Bitwise researcher Ryan Rasmussen suggested the market for crypto exchange-traded products (ETPs) will expand in 2026. How? Read the full story.
