Crypto investment products see $572 million in weekly net inflows, led by Ethereum and Bitcoin rebound: CoinShares

Global crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares returned to net inflows of $572 million last week, having registered their first outflows in nearly four months the week before, according to CoinShares data.

"Early in the week, outflows reached $1 billion, which we believe were driven by growth concerns stemming from weak U.S. payroll figures," CoinShares Head of Research James Butterfill noted in a Monday report. "In the latter half of the week, however, we saw $1.57 billion of inflows, likely spurred by the government's announcement permitting digital assets in 401(k) retirement plans."

Ethereum investment products take the lead

Regionally, crypto funds in the U.S., Canada, and Australia led the inflows, adding $608 million, $16.5 million, and $7.9 million, respectively. However, Europe remained bearish, with digital asset investment products in Germany, Sweden, and Switzerland witnessing combined outflows of $54.3 million.

Ethereum-based funds led the market as ETH topped $4,000 for the first time in eight months, adding another $268 million to post their 13th consecutive week of net inflows. Year-to-date inflows hit a record $8.2 billion as a result, with assets under management also reaching an all-time high of $32.6 billion amid the price gains.

The U.S. spot Ethereum ETFs dominated this figure, accounting for $326.6 million of last week's inflows, offset by outflows in other countries, according to data compiled by The Block.

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Meanwhile, Bitcoin-based funds recovered from two weeks of net outflows to bring in $260 million last week, while $4 million exited short-Bitcoin products. The U.S. spot Bitcoin ETFs accounted for the majority of that figure, adding $253.2 million.

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Solana, XRP, and Near-based funds also registered net inflows of $21.8 million, $18.4 million, and $10.1 million last week, respectively.