Crypto investment products log record weekly inflows of nearly $6 billion
Quick Take
- Crypto investment products registered $5.95 billion worth of net inflows globally last week — the largest on record — according to asset manager CoinShares.
- The flows were driven by a delayed response to the U.S. interest rate cut, compounded by weak employment data and the government shutdown, Head of Research James Butterfill said.
Global crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares generated record net inflows of $5.95 billion last week, according to CoinShares' data.
"We believe this was due to a delayed response to the FOMC interest rate cut, compounded by very weak employment data, as indicated by Wednesday's ADP Payroll release, and concerns over U.S. government stability following the shutdown," CoinShares Head of Research James Butterfill wrote in a Monday report.
Weekly crypto asset flows. Images: CoinShares.
Positive price action also pushed assets under management at the funds to a new all-time high of $254 billion. Bitcoin rose to a record $125,750 on Sunday in a week that saw the foremost cryptocurrency gain over 10%. Ethereum also gained more than 10% last week to rise back above $4,500, as did the GMCI 30 index of leading cryptocurrencies.
US weekly inflow record
While the positive sentiment was broad, regionally, U.S.-based digital asset investment products dominated with a new record $5 billion worth of net inflows alone. Crypto funds in Switzerland also broke their weekly record, attracting $563 million in net inflows, and Germany-based products saw their second-largest weekly inflows totaling $312 million.
Bitcoin-based funds led the weekly inflows by asset, adding a record $3.55 billion, with no short-bitcoin investment product interest. The U.S. spot Bitcoin exchange-traded funds saw $3.2 billion in net inflows alone, according to data compiled by The Block, led by BlackRock's IBIT, which added $1.8 billion.
Ethereum products also saw substantial inflows, adding $1.48 billion last week, pushing year-to-date inflows to a record $13.7 billion — close to triple that of 2024, Butterfill said.
The U.S. spot Ethereum ETFs accounted for $1.3 billion of that figure, again led by BlackRock's ETHA product with $691.7 million.
Meanwhile, Solana investment products also broke their weekly inflow record, adding $706.5 million last week to bring their year-to-date inflows to $2.6 billion. XRP funds also saw significant inflows of $219.4 million globally, though other altcoins saw very little inflow, Butterfill noted.
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