Kripto Yatırım Ürünlerinde Net Çıkışlar: Ocak Başında Gelen İyimserliğin Sarsılması

One-week net outflows were recorded in investment products related to crypto assets; a loss of $454 million was registered by the end of the week. This movement indicates a reversal that largely erased the gains recorded at the beginning of January. The total outflows over four days amounted to approximately $1.3 billion, almost reversing the $1.5 billion inflows achieved in the first two trading days of 2026. Behind this sudden change are the weakening expectations of Fed interest rate cuts in March and macroeconomic data suggesting inflation may be more persistent than expected.

Markets’ hopes supported by early January optimism fueled expectations of early easing by the Fed. However, stronger-than-expected economic indicators and robust employment data tempered these expectations, triggering a risk-off trend in digital asset investment products. This situation indicates that a large portion of capital towards digital assets was withdrawn from the market in a short period and reveals how sensitive they are to changes in the macroeconomic outlook.

The US plays a dominant role in regional outflows: CoinShares reported that last week, US-listed products withdrew an important amount of $569 million. Regions such as Europe and Canada continued to attract capital; Germany led with $58.9 million, Canada with $24.5 million, and Switzerland with $21 million. These data highlight the clear difference in investor behavior between the US and Europe.

In terms of asset levels, Bitcoin’s outflow of $405 million during the week stood out as the most notable movement. Short-term Bitcoin products also experienced outflows of $9.2 million; this indicates that bulls and bears are operating with a mixed belief rather than a clear direction. Outflows in Ethereum were $116 million, while in multi-asset products, $21 million; in Binance-linked products, $3.7 million; and in Aave-linked products, $1.7 million were observed as smaller movements.

Selective altcoins managed to attract new capital: Despite the risk-off environment, some assets continued to draw investor interest. XRP stood out with $45.8 million, while Solana with $32.8 million and Sui with $7.6 million ranked second and third. These entries indicate a preference towards assets seen as resilient against macro uncertainties or driven by near-term catalysts rather than a shift in the overall market direction.