Global crypto funds see $1.2 billion in net inflows, extending 10-week streak amid geopolitical uncertainty: CoinShares

Crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded another $1.24 billion in net inflows globally last week, according to CoinShares data.

It marks the tenth consecutive week of net inflows for global crypto funds, totaling $14.1 billion, with year-to-date inflows reaching a new high of $15.1 billion, according to CoinShares' James Butterfill. The funds now have $176 billion in combined assets under management.

"However, the surge in activity earlier in the week tapered off in the latter half, likely due to the U.S. Juneteenth holiday and reports of U.S. involvement in the Iran conflict," Butterfill said.

Weekly crypto asset flows. Images: CoinShares.

Bitcoin and Ethereum products show strong investor sentiment despite geopolitical tension

Bitcoin investment products posted their second consecutive week of inflows, adding $1.1 billion, despite the recent price correction — indicating that investors were buying on weakness, Butterfill said. That was further supported by minor outflows of $1.4 million from short-Bitcoin products, he added.

U.S. spot Bitcoin exchange-traded funds accounted for the majority of that figure, attracting $1.02 billion last week, according to data compiled by The Block.

Meanwhile, Ethereum-based funds added another $124 million, marking their ninth consecutive week of inflows, which now total $2.2 billion. This marks the longest streak of inflows since mid-2021, reflecting continued robust investor sentiment toward the asset, Butterfill wrote.

However, the U.S. spot Ethereum ETFs accounted for just $40.3 million of last week's inflows, with greater momentum seen in other jurisdictions.

Overall, the U.S. led the region with net inflows of $1.25 billion, followed by Canada and Germany, with $20.9 million and $10.9 million, respectively. This was partially offset by outflows of $32.6 million from products in Hong Kong and $7.7 million from Switzerland.

Laying the groundwork for a rebound

Bitcoin is trading down 4.7% over the past week, at $101,660, according to The Block's BTC price page, while Ethereum is down 13.7% during the same period, trading at $2,255. 

"Despite short-term volatility and risk-off sentiment, long-term structural demand is growing stronger. Public entities like Texas and corporations like Metaplanet are solidifying Bitcoin's position as a strategic reserve, laying the groundwork for a rebound once uncertainty fades," BRN Lead Research Analyst Valentin Fournier told The Block. "We remain constructive on Bitcoin's resilience and believe Solana could outperform in a recovery. Ethereum has lost some institutional support in the short term, but may regain ground as volatility cools."

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