Crypto investment products attract another $2.7 billion as inflow streak extends to 11 weeks: CoinShares

Crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded another $2.7 billion in net inflows globally last week, according to CoinShares data.

It marks the eleventh consecutive week of net inflows for global crypto funds, totaling $16.9 billion. It also brings year-to-date inflows to a new high of $17.8 billion at the halfway mark, CoinShares Head of Research James Butterfill said in a Monday report — tracking similarly to the $18.3 billion generated in H1, 2024 when the U.S. spot Bitcoin exchange-traded funds launched. The global crypto funds now have a combined $184.4 billion in assets under management.

"We believe this resilient investor demand has been driven by a combination of factors, primarily heightened geopolitical volatility and uncertainty surrounding the direction of monetary policy," Butterfill said.

Bitcoin and the US dominate

Bitcoin-based funds notched up their third consecutive positive week, accounting for 83% of the net inflows, adding $2.2 billion. In contrast, short-Bitcoin investment products registered a further $2.9 million in net outflows, bringing year-to-date outflows to $12 million — a clear indication of broadly positive sentiment towards bitcoin this year, Butterfill wrote.

The U.S. spot Bitcoin ETFs accounted for the majority of that figure, attracting $2.2 billion last week, according to data compiled by The Block.

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Meanwhile, Ethereum-based funds added another $429 million, marking their tenth consecutive week of inflows — the longest streak of inflows since mid-2021 — and bringing their year-to-date figures to $2.9 billion.

However, the U.S. spot Ethereum ETFs were less dominant than their Bitcoin counterparts, accounting for $283.5 million of last week's global Ethereum fund inflows.

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Overall, the U.S. led regionally with net inflows of $2.7 billion, followed by Switzerland and Germany, with crypto investment products of $23 million and $19.8 million, respectively. This was offset by outflows of $13.6 million, $2.4 million, and $2.3 million from funds in Canada, Brazil, and Hong Kong.