Cryptocurrency ETF flows reach $572 million with Bitcoin and Ethereum recovery
Ethereum ETPs continued to lead the market last week, attracting the largest inflows among other crypto assets of nearly $270 billion.
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Cryptocurrency investment products recorded gains last week, recovering after ending the previous week with a record streak of 15 weeks totaling $27.8 billion.
Global cryptocurrency exchange-traded products (ETPs) saw inflows of $572 million during the trading week ending Friday, according to European cryptocurrency asset management firm CoinShares on Monday.
Flows came amid a recovery in Bitcoin prices
Bitcoin
$120,186
and Ethereum
Ethereum
$4,187
last week, as Ethereum reached a psychological level of $4000 for the first time since December 2024.
Weekly cryptocurrency asset flows. Source: CoinShares
Thanks to these gains, inflows since the beginning of the year have risen to a historic new level of $30.7 billion, while total managed assets reached $226 billion for the first time.
Markets react to approval of the 401(k) plan
James Butterfield, Head of Research at CoinShares, noted that the recovery of cryptocurrency ETP flows last week was likely driven by the U.S. government's decision to allow digital assets in 401(k) retirement plans, which was announced last Thursday.
However, early-week outflows reached $1 billion, likely in response to growth concerns arising from weak payroll figures in the United States, Butterfield said.
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Inflows of Bitcoin ETFs versus inflows of Ethereum ETFs. Source: SoSoValue
"However, we saw inflows of $1.57 billion in the latter half of the week, likely driven by the government's announcement allowing digital assets in 401(k) retirement plans," it was noted.
Exchange-traded products (ETPs) lead the market
After experiencing tremendous growth in July, Ether ETPs continued to lead the market last week, attracting the largest inflows among other crypto assets of nearly $270 billion.
Butterfield stated: "This pushed inflows since the beginning of the year to a record new level of $8.2 billion, while recent price gains pushed total assets under management to an all-time high of $32.6 billion, an increase of 82% so far this year."
Cryptocurrency ETF flows by asset as of Friday (in millions of USD). Source: CoinShares
Bitcoin ETFs also saw a significant rebound after two consecutive weeks of outflows, with total inflows last week reaching $265 million, according to data from CoinShares.
Related: Analyst says Bitcoin price rise to $122,000 was "only a matter of time"
ETFs tracking Solana also saw significant gains
Soul
$179.03
and XRP
XRP
$3.23
and Near
Close
$2.66
Flows totaled $21.6 million, $18.4 million, and $10.1 million, respectively.
BlackRock's net cryptocurrency assets are approaching $100 billion
BlackRock's iShares ETFs topped last week's gains with inflows of $294 million, down about 61% from $749 million the previous week.
Despite the slowdown, funds approached the $100 billion managed assets barrier, closing at $98.9 billion on Friday.
Cryptocurrency ETF flows by issuer as of last Friday (in millions of USD). Source: CoinShares
Grayscale Investments, the second largest issuer of cryptocurrency trading products with managed assets of $35.4 billion, recorded inflows of $87 million last week, behind Bitwise which recorded $95 million.
Fidelity Investments' cryptocurrency funds experienced the largest losses among issuers, with total outflows of $55 million.
