Last week, investment products based on cryptocurrencies, managed by names like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, saw a significant net inflow of $3.17 billion. Since the start of the year, this figure has climbed to $48.7 billion, surpassing last year’s record. Weekly trading volume for these crypto-based investment products peaked at $53 billion, with Friday alone witnessing an impressive $15.3 billion inflow. However, following a sharp sell-off spurred by tariff tensions, assets under management fell to $242 billion, marking a 7% decline from the previous peak.
Highlights from the Report
James Butterfill, Head of Research at CoinShares, noted in their latest weekly report that despite last week’s sharp price drop, only $159 million was withdrawn. He emphasized that even though shocks from tariff rhetoric shook the market, investor appetite remained intact. As a result of sequential liquidations, at least $20 billion worth of positions were erased. Due to internal reporting discrepancies, the actual figure might be much higher, potentially even 100 times greater. However, the weekly decline in major cryptocurrencies was limited, with Bitcoin 
$77,690 falling by 6.8% and Ethereum 
$2,329 by 8.3%.
Despite unofficial segments, the record trading intensity within cryptocurrency-based investment products suggests that price shocks were absorbed by institutional products. The contraction in assets under management, explained by valuation effects and the week’s end selling pressure, illustrates sustained institutional demand through positive balance on the inflow side.
Asset and Regional Flow Distribution
U.S.-based cryptocurrency investment products stood out with a $3.01 billion inflow last week. Additionally, Switzerland contributed $132 million and Germany $53.5 million. Conversely, net outflows were observed in Sweden, Brazil, and Hong Kong. Bitcoin-focused investment products drew $2.67 billion throughout the week, reaching an annual total of $30.2 billion, a record high. During Friday’s correction, intraday volume for Bitcoin-based investment products hit $10.4 billion, with net inflows limited to just $0.39 million.
Spot Bitcoin ETFs in the U.S. alone attracted a net inflow of $2.71 billion, although the latter part of the week saw a minor outflow of $4.5 million. Ethereum-based products secured $338.3 million but faced the most significant impact from Friday’s correction with a $172 million outflow. Despite a weekly inflow of $488.2 million, U.S.-based spot Ethereum ETFs experienced a $174.9 million outflow on Friday. Investment products based on Solana 
$86 and XRP maintained a positive outlook with inflows of $93.3 million and $61.6 million, respectively.
