Crypto asset manager and research firm CoinShares says institutional investors pulled hundreds of millions of dollars out of investment products due to President Trump’s “calamitous” tariff war.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products have suffered enough outflows in recent weeks to offset yearly inflows.

“Digital asset investment products saw a 3rd consecutive week of outflows last week, totaling US$795m, as recent tariff activity continues to weigh on sentiment towards the asset class.

The wave of negative sentiment, which began in early February, has resulted in record outflows of US$7.2bn — effectively erasing nearly all year-to-date (YTD) inflows, now standing at just US$165m.

However, a late-week price rebound helped lift total assets under management (AuM) from their lowest point on April 8 (the lowest since early November 2024) to US$130bn, marking an 8% increase following President Trump’s temporary reversal of the economically calamitous tariffs.”

Bitcoin (BTC) was the biggest bleeder, letting $751 million in outflows last week alone. Ethereum (ETH) products lost $37.6 million over the same period. Solana (SOL), AAVE and SUI products lost $5.1 million, $0.78 million and $0.58 million, each.

However, some altcoins did see minor inflows.

“Smaller altcoin saw minor inflows led by XRP with inflows of 3.5m, while Ondo, Algorand and Avalanche saw inflows of US$0.46m, US$0.25m and US$0.25m respectively.”

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