Crypto ETP outflows ease; Coinbase Super Bowl ad; ARK sells COIN

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Crypto exchange-traded product (ETP) outflows eased to $187 million last week after a prolonged bout of redemptions, while Coinbase aired a Super Bowl commercial and ARK Invest sold $22 million worth of Coinbase shares across three exchange-traded funds (ETFs).

Crypto investment outflows slow after three weeks of selling

Digital asset investment products posted a third consecutive week of net outflows, but the pace moderated as token prices stabilized following a sharp pullback. CoinShares reported on Monday that crypto ETPs recorded $187 million in outflows for the week, down from $3.43 billion over the prior two weeks.

The deceleration coincided with Bitcoin (BTC) falling to its lowest level since November 2024, briefly touching $60,000 on Coinbase last Thursday. “While flows typically move in line with crypto prices, changes in the pace of outflows have historically been more informative, often signaling inflection points in investor sentiment,” said James Butterfill, head of research at CoinShares.

Bitcoin-focused products were the only category to see notable withdrawals, totaling $264.4 million. XRP (XRP) products led inflows at $63 million, while ETPs tracking Ether (ETH) and Solana (SOL) posted smaller gains of $5.3 million and $8.2 million, respectively. Spot Bitcoin ETFs represented a substantial share of last week’s Bitcoin ETP outflows at $318 million, according to SoSoValue.

Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

Coinbase taps 1990s nostalgia in Super Bowl spot

Coinbase returned to the Super Bowl for the first time since its 2022 QR code spot, airing a 60-second ad featuring the lyrics to the Backstreet Boys’ 1997 track “Everybody (Backstreet’s Back).” Chief marketing officer Catherine Ferdon said the goal was to “bring people together for a shared experience that highlights how the crypto community has grown.” Online reaction was mixed, with some viewers calling it memorable and others criticizing it.

One X user claimed, “the room I’m in ERUPTED in boos when we found out it was a Coinbase ad,” while Ethereum Foundation engineer Chase Wright said that “half of the people at the party I was at were singing along and laughed when it was Coinbase.” Coinbase CEO Brian Armstrong defended the approach on X, saying that “most people half-watch commercials (buzzed, in a loud room, with lots of people). It takes something unique to break through.”

“If you’re talking about it, it worked,” Coinbase posted on X in response to a user who described the ad as “terrible.”

ARK trims Coinbase position with approximately $22 million sale

ARK Invest continued to reduce its Coinbase exposure on Friday, disclosing sales of 92,737 Coinbase Global shares from the ARK Innovation ETF (ARKK), 32,790 shares from the Next Generation Internet ETF (ARKW), and 8,945 shares from the Fintech Innovation ETF (ARKF). In total, ARK sold 134,472 shares, valued at about $22.1 million, while adding to its holdings in digital asset platform Bullish.

The move followed ARK’s sale of 119,236 COIN shares on Thursday, worth roughly $17.4 million, after a brief purchase earlier in the week. It marked ARK’s first Coinbase sale of 2026 and its first since August 2025. Coinbase shares advanced during Friday’s session, closing near $165 after a gain of about 13% on the day, though the stock remains down 26% year-to-date, according to Google Finance.

Coinbase shares closed Friday up by 13%. Source: Google Finance

Disclaimer: This article is for informational purposes only. Figures and market data are based on sources cited, including CoinShares, SoSoValue, and Google Finance. Readers should independently verify information before making investment decisions.