Crypto ETPs post a 3rd week of net inflows, driven by the United States

For the third week in a row, crypto ETPs attracted new capital, according to CoinShares. Last week, net inflows accelerated further, extending an already strong streak after the previous two weeks. In detail, the dynamic is mainly American. The United States concentrates the majority of purchases, far ahead of Germany and Canada, while Switzerland stands out against the trend with net outflows over the period.

The United States sets the pace for global crypto flows

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

This movement of capital is not homogeneous. He is even very focused. Of the $864 million in weekly admissions, nearly $796 million comes from the United States. In other words, Wall Street is leading the way, once again. Germany and Canada complete the podium, but at a good distance.

This geographic imbalance reflects the depth of the US crypto ETF market. Additionally, it denotes the continued appetite of North American investors for regulated exposure to digital assets. Since the start of the year, these three countries have concentrated nearly 98.6% of cumulative flows. It is indeed a figure that 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 are absorbing the bulk of new capital. Bitcoin alone captured $522 million over the week, while BTC short products recorded net outflows. A revealing detail. When bearish products empty, it is not by chance. CoinShares sees this a clear sign of renewed sentimentand it's hard to blame him.

Since January, Bitcoin has attracted $27.7 billion, an impressive figure, although still lower than in 2024. Ether, for its part, is showing even greater momentum. It made weekly inflows of 338 million dollars, for an annual total of 13.3 billion, an increase of 148% over one year.

Behind the BTC–ETH duo, certain altcoins are doing well. Solana recorded $65 million in inflows over the week, with an annual cumulative increase multiplied by ten. XRP is not far behind, attracting $46.9 million, despite continued volatility in its price.

On the other hand, cryptos with smaller capitalizations show contrasting performances. Aave and Chainlink manage to capture modest flows, while hyperliquidity-related products experience net outflows. Finally, multi-asset crypto ETPs continue to lose ground. Weekly outflows exceed $100 million, confirming a growing disinterest in overly diluted strategies.