The crypto market recorded $286 million in inflows, extending a seven-week streak that has added $10.9 billion to crypto investment products, according to CoinShares‘ weekly report.
However, the overall value of assets under management slipped from $187 billion to $177 billion, reflecting recent market declines.
CoinShares’ Head of Research, James Butterfill, pointed to growing economic uncertainty in the US as a key driver behind the dip.
Last week, a federal court decided to temporarily revive Trump-era reciprocal tariffs, triggering volatility and prompting investors to adjust their positions.
Despite the turbulence, US-based products still attracted the most capital, with $199 million in inflows. Germany and Australia followed with $42.9 million and $21.5 million, respectively.
Hong Kong also saw a surge in activity, posting $54.8 million in new inflows, its highest since local crypto ETFs launched.
In contrast, Switzerland faced $32.8 million in outflows, joining Sweden and Brazil in registering weekly losses of $4 million and $3.2 million, respectively.
Bitcoin sees first outflow in weeks
Ethereum-based investment products took the spotlight last week, attracting the highest inflows across the digital asset market.
According to the CoinShares report, Ethereum funds brought in $321 million, outpacing Bitcoin and signaling a possible shift in investor sentiment. This marked Ethereum’s sixth straight week of inflows, now totaling $1.19 billion, its strongest run since late 2024.
On the other hand, Bitcoin funds, which had previously enjoyed six weeks of steady inflows, faced a reversal. The bellwether digital asset saw $8 million in outflows last week.
The shift was most visible in BlackRock’s iShares Bitcoin Trust (IBIT), which lost $430.8 million. This was the fund’s first outflow since early April and its largest on record.
CoinShares noted that the trend reversal came mid-week, following the court’s tariff ruling. What began as a week of inflows quickly turned into cautious withdrawals as investors reacted to the renewed trade policy uncertainty.
Meanwhile, XRP also struggled, marking its second consecutive week of outflows, with $28.2 million exiting the asset. The product has seen over $56 million exit during the last two weeks.
In contrast, other niche assets saw modest gains during the period. Sui pulled in $2.2 million, Solana attracted $1.5 million, Cardano added $100,000, and Chainlink brought in $800,000.
This data suggests a shifting landscape where Ethereum is gaining momentum while Bitcoin temporarily takes a back seat in the face of macroeconomic headwinds.