Chiara Bianchi
Global crypto investment vehicles managed by major players like BlackRock, Fidelity, Bitwise, Grayscale, ProShares, and 21Shares pulled in $286 million in net inflows last week, according to data from CoinShares. This marks the eighth straight week of positive momentum, pushing the cumulative total to an impressive $11.3 billion.
However, according to James Butterfill, Head of Research at CoinShares, investor enthusiasm appears to be cooling. โWith uncertainty surrounding U.S. monetary policy, many are opting to wait for clearer signals from the Federal Reserve on inflation,โ he noted in a report released Monday.
While Bitcoin-based funds struggled, Ethereum investment vehicles emerged as clear winners for the second week in a row. These products brought in $296.4 million in new capital, extending a seven-week run that now totals $1.5 billion. This surge accounts for 10.5% of global Ethereum assets under management, Butterfill highlighted.
โThis is the strongest inflow performance since the U.S. presidential election in November, reflecting a significant revival in investor sentiment,โ he added.
U.S. Spot Ethereum ETFs Drive Growth
A major portion of the Ethereum inflows stemmed from U.S. spot ETFs, which attracted $281.3 million last week alone. These ETFs have now maintained 15 consecutive days of inflows, reaching a total of $837.5 million, based on data compiled by PRIME.
Bitcoin-Based Funds See Consecutive Weekly Losses
In contrast, Bitcoin investment products faced another week of outflows, with $56.5 million pulled from global funds. Additionally, short-Bitcoin productsโdesigned to profit from price dropsโalso saw $4.1 million in net outflows, signaling reduced bearish sentiment among traders.
Altcoins See Mixed Results
Elsewhere in the altcoin market, activity was muted. Sui-related products attracted modest interest, netting $1.1 million, while XRP investment vehicles recorded a third straight week of outflows, losing $6.6 million during the same period.
U.S. Leads Regional Inflows, While Hong Kongโs Hot Streak Ends
In terms of geographic distribution, the United States led the pack with $175 million in inflows, followed by Germany ($47.8M), Switzerland ($15.7M), Canada ($9.8M), and Australia ($6.5M). On the flip side, Brazil and Hong Kong recorded net outflows of $9.2 million and $14.6 million, respectively. The latterโs decline marked the end of a record-setting inflow streak for the region.
