Cautious Optimism Drives $864 Million into Crypto ETPs

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Weekly inflows into digital asset investment products reached US$864 million, continuing a three-week trend of steady investment. This sustained activity suggests a cautiously optimistic shift among investors. Market performance has been restrained even after the US Federal Reserve’s rate cut, with flows and sentiment appearing mixed in its immediate aftermath.

Geographically, the US demonstrated the strongest appetite with US$796 million in inflows. Germany and Canada followed with US$68.6 million and US$26.8 million, respectively. Together, these three nations have captured nearly all institutional flow activity in 2025, responsible for 98.6% of YTD inflows.

Bitcoin garnered the majority of last week’s inflows at US$522 million, and the ongoing outflows from short Bitcoin products (US$1.8 million) indicate a recovery in bullish sentiment. Still, Bitcoin’s YTD inflows of US$27.7 billion lag behind the US$41 billion recorded in 2024. Conversely, Ethereum inflows hit US$338 million last week, pushing its YTD total to US$13.3 billion—a 148% year-over-year increase.

Solana maintains a lower YTD inflow figure of US$3.5 billion, which nonetheless is a tenfold rise from 2024. Aave and Chainlink saw modest weekly inflows of US$5.9 million and US$4.1 million, while Hyperliquid was an outlier with US$14.1 million in outflows.