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.”
Weekly crypto asset flows. Images: CoinShares.
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.
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.
Solana, XRP, and Near-based funds also registered net inflows of $21.8 million, $18.4 million, and $10.1 million last week, respectively.
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