According to CoinShares’ Digital Asset Fund Flows Weekly Report, there was a noticeable resurgence in crypto-based investment products after a four-week hiatus. As of December 20, 2025, the period closed with a weekly net outflow of $952 million, predominantly originating from the United States. The report highlighted the delay in the U.S. passing the Clarity Act, extending regulatory uncertainties, and the fear generated by large-scale investor sell-offs dampening risk appetite.
U.S. Exits Highlight Regulatory Ambiguity
CoinShares’ data shows a significant outflow of $952 million from crypto-based investment products in the previous week, with $990 million concentrated in the U.S. Meanwhile, inflows from Canada and Germany managed to partially offset this trend, with figures of $46.2 million and $15.6 million, respectively, but the focus remained heavily on the U.S. market.
The report attributed the market’s reaction to the prolonged regulatory uncertainty due to the delay in the Clarity Act’s passage in the U.S. Further concerns about sustained large-scale sell-offs by whale investors were noted as factors dampening eagerness for risky assets.
In terms of assets under management (AUM), the total remained at $46.7 billion, trailing behind the $48.7 billion recorded in 2024. CoinShares remarked that it has become increasingly unlikely for crypto-based investment products to surpass last year’s total inflows under the current market outlook.
Outflows in Ethereum and Bitcoin, Selective Inflows in Solana and XRP
The largest outflow of the week, amounting to $555 million, was recorded in Ethereum 
$3,139. CoinShares noted Ethereum’s unique position of being the most potentially affected by the Clarity Act delay, which explains its heightened sensitivity to news. It was highlighted that Ethereum’s year-to-date fund inflows reached $12.7 billion, significantly exceeding the $5.3 billion from 2024.
Bitcoin 
$91,967 experienced a weekly net outflow of $460 million. However, the total year-to-date fund inflow remained at $27.2 billion, still below the 2024 figure of $41.6 billion. The report outlined that regulatory delays and concerns about large-scale investor sell-offs intensified selling pressure on the two major cryptocurrencies.
In the same week, Solana and XRP showed positive deviations. According to the report, Solana-based investment products saw a net inflow of $48.5 million, while XRP-based products received $62.9 million. CoinShares interpreted these figures as signs of selective investor support.
Overall, the data underscores the significant impact of the U.S. regulatory environment on the crypto investment landscape and the varying responses across different digital assets.
