Ethereum labeled 'standout performer' as global crypto funds add $785 million in fifth straight week of inflows: CoinShares

Crypto investment products run by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered $785 million worth of net inflows globally last week, according to CoinShares data — boosted by recovering Ethereum sentiment.

It marks the fifth consecutive week of gains, with year-to-date inflows now standing at $7.5 billion — surpassing the previous peak of $7.2 billion recorded in early February, CoinShares Head of Research James Butterfill wrote in a Monday report. "It also fully recovers the near $7 billion of outflows experienced during the February-March price correction," he said.

In a week that saw bitcoin consolidate between $102,000 and $105,000, according to The Block's Bitcoin price page , while ether fell around 3%, and the GMCI 30 index of leading cryptocurrencies dropped 6%, total assets under management at the funds reached $172.9 billion — again around record levels.

Ethereum sentiment is recovering

While Bitcoin-based funds again dominated last week, accounting for $557 million in net inflows, Ethereum investment products were the "standout performer," in Butterfill's view — adding $205 million to reach $575 million year-to-date as sentiment toward the second-largest cryptocurrency continues to recover.

The Ethereum flows indicate renewed investor optimism following its successful Pectra upgrade and the appointment of new co-executive director Tomasz Stańczak , Butterfill said. 

However, the U.S. spot Ethereum exchange-traded funds represented just $41.8 million of this figure, according to data compiled by The Block, with sentiment divided across regions.

The Bitcoin fund flow figures represent a decrease from $887 million during the prior week — likely due to continued hawkish signals from the U.S. Federal Reserve, Butterfill added. Short-bitcoin products also registered a fourth consecutive week of inflows, totalling $5.8 million, reflecting investor positioning amid recent price gains, he said.

The U.S., Germany, and Hong Kong markets attracted overall net inflows of $681 million, $86.3 million, and $24.2 million, respectively — with Hong Kong marking its largest inflow since November 2024, Butterfill noted. However, digital asset investment products in Sweden, Canada, and Brazil saw outflows of $16.3 million, $13.5 million, and $3.9 million.

Meanwhile, Solana-based investment products were the only ones to witness net outflows last week, with a modest $0.9 million exiting the funds.