Crypto ETPs Post a Third Straight Week of Net Inflows, Led by the US

Money keeps pouring in. For the third consecutive week, crypto exchange-traded products have recorded net inflows, with the United States leading the charge. The trend signals a sustained institutional appetite, cutting through the market's typical noise.

The American Engine

The U.S. isn't just participating—it's driving the bus. Its dominance in the latest inflow figures highlights a maturing stateside infrastructure that's finally bypassing regulatory hand-wringing. Wall Street's slow, expensive embrace of digital assets is, for once, showing tangible momentum.

What the Streak Really Means

Three weeks might seem trivial in the grand scheme, but in crypto's volatile world, it's a meaningful pattern. It suggests a foundational shift from speculative flurries to strategic allocation. The inflows aren't a bet on next week's price; they're a vote for the asset class itself.

The momentum builds a compelling case, even for the most cynical traditional financier who still thinks blockchain is just a fancy ledger. The money trail, however, doesn't lie—it just takes a cut on the way in and out.

In brief

• Crypto ETPs recorded about $864M in net inflows, confirming a positive momentum after two already very strong weeks.
• $796M comes from the US market, ahead of Germany and Canada, while Switzerland shows weekly outflows.
• BTC (+$522M) and ETH (+$338M) lead allocations, with outflows on short BTC products, indicating a less defensive sentiment; Solana and XRP follow behind.

The United States Set the Pace for Global Crypto Flows

The crypto ETP market continues a third week of net inflows. According to CoinShares, about $864 million entered last week, after $716 million the previous week and $1 billion the week before that.

This capital movement is not homogeneous. It is very concentrated. Of the $864 million weekly inflows, nearly $796 million come from the United States. In other words, Wall Street leads once again. Germany and Canada complete the podium, but at some distance.

This geographical imbalance reflects the depth of the US crypto ETF market. Moreover, it indicates the persistent appetite of North American investors for regulated exposure to digital assets. Since the beginning of the year, these three countries account for nearly 98.6% of cumulative flows. Indeed, this figure says a lot about the centralization of institutional capital.

Conversely, Switzerland is an exception. Crypto ETPs listed on its territory recorded $41.4 million in weekly outflows, despite a positive balance since the start of the year.

Bitcoin and Ether Resume Their Role as Pillars

Unsurprisingly, Bitcoin and Ether absorb the bulk of the new capital. Bitcoin alone captures $522 million over the week, while short BTC products register net outflows. A revealing detail. When bearish products empty out, it is no coincidence. CoinShares sees a clear sign of sentiment recovery, and it’s hard to disagree.

Since January, bitcoin has attracted $27.7 billion, an impressive figure, although still below that of 2024. Ether, on the other hand, shows even stronger momentum. It recorded weekly inflows of $338 million, for a yearly total of $13.3 billion, a 148% year-over-year increase.

Behind the BTC–ETH duo, some altcoins are standing out. solana records $65 million in inflows over the week, with annual total multiplied by ten. XRP is not far behind, attracting $46.9 million despite persistent price volatility.

Conversely, smaller cap cryptos show mixed performances. Aave and chainlink manage to attract modest flows, while products related to hyperliquidity suffer net outflows. Finally, multi-asset crypto ETPs continue to lose ground. Weekly outflows exceed $100 million, confirming a growing disinterest in overly diluted strategies.

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