Crypto investment products suffered $1.07 billion in outflows last week, ending a six-week run of gains and marking the third-largest weekly withdrawal of 2026, according to a Monday report from CoinShares.

Analysts attributed the reversal primarily to renewed geopolitical anxiety tied to Iran, which rattled broader risk markets and sent investors fleeing the largest cryptocurrencies.

Total assets under management slipped to $157 billion from $159 billion the prior week. The damage was almost entirely an American story: U.S.-listed products accounted for $1.14 billion of the outflows, dwarfing activity elsewhere.

European investors, by contrast, largely held their nerve. Switzerland attracted $22.8 million in net inflows,…