Global crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares generated net outflows of $352 million last week, reversing the trend once again after the prior week’s $2.5 billion inflows, according to CoinShares’ data.
Weaker payroll figures and improving prospects for a September interest rate cut in the U.S. failed to bolster sentiment, CoinShares Head of Research James Butterfill said in a Monday report.
Trading volume also fell 27% week-over-week, suggesting the appetite for digital assets has cooled, Butterfill added. Nevertheless, with year-to-date inflows of $35.2 billion, 4.2% ahead of last year’s total on an annualized basis, broader sentiment remains intact, he said.
Weekly crypto asset flows. Images: CoinShares.
Ethereum investment products lead outflows
Regionally, sentiment was polarized, Butterfill noted, with U.S.-based digital asset investment products witnessing $440 million in net outflows, while crypto funds in Germany and Hong Kong saw inflows of around $85 million and $8 million, respectively.
Despite softer sentiment and modest outflows later in the week, Bitcoin funds still recorded $524 million in net inflows.
In contrast, Ethereum products drove last week’s net outflows, with $912 million exiting across a broad set of ETP issuers. Still, year-to-date inflows remain strong at $11.2 billion, Butterfill said.
The U.S. spot Ethereum ETFs accounted for $787.6 million of last week’s net outflow figure, according to data compiled by The Block, while the U.S. spot Bitcoin ETFs brought in $250.3 million.
Meanwhile, Solana and XRP-based investment products continued to witness modest but steady inflows of $16.1 million and $14.7 million, respectively. Solana investment products have now logged 21 consecutive weeks of inflows totaling $1.16 billion, while XRP funds have attracted $1.22 billion over the same period, Butterfill noted.
Earlier on Monday, CoinShares announced it is set to go public in the U.S. via a $1.2 billion merger with special purpose acquisition company Vine Hill that will see it listed on the Nasdaq.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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