Crypto funds see $286 million inflows in past seven weeks

Cryptocurrency investment products recorded $286 million in net inflows during the week ending May 30, continuing a seven-week streak that has brought total inflows to $10.9 billion, according to CoinShares data released June 2.

Despite these inflows, total assets under management (AUM) fell from a record $187 billion to $177 billion amid market volatility linked to uncertainty over U.S. tariffs, said CoinShares head of research James Butterfill.

The inflows occurred as Bitcoin’s (CRYPTO:BTC) price dropped about 6%, falling from $110,000 to an intraweek low near $103,400.

Ether (CRYPTO:ETH) exchange-traded products (ETPs) led last week’s inflows with $321 million, marking the strongest buying momentum since late December 2024 and signaling improved investor sentiment.

In contrast, Bitcoin ETPs experienced $8 million in outflows, a reversal attributed partly to a New York court ruling that declared U.S. tariffs illegal.

XRP (CRYPTO:XRP) investment products posted the largest outflows, totaling $28 million for a second consecutive week of losses.

Among issuers, BlackRock’s iShares ETFs led inflows with $790 million last week, pushing year-to-date inflows to $12.4 billion, although its AUM declined slightly to $72.9 billion due to Bitcoin ETF outflows.

Meanwhile, ARK Invest and 21Shares faced the biggest losses among issuers, with $282 million in outflows last week.

Butterfill noted that the reversal in Bitcoin ETP flows followed six weeks of healthy inflows and was influenced by multiple factors including seasonal weakness historically observed in June.

Some investors appeared to be taking profits after Bitcoin’s recent rally above $110,000, while long-term holders capitalised on price dips.

Ether’s renewed growth follows a period of bearish sentiment that led some trading firms to reduce ETH support earlier in May.

However, improvements in Ethereum’s network fundamentals and futures markets have contributed to positive momentum.