Digital asset investment products attracted $3.3 billion in inflows last week, pushing year-to-date (YTD) inflows to an all-time record of $10.8 billion. This momentum also propelled total assets under management (AuM) to a new peak of $187.5 billion.

• Bitcoin continued to lead the charge, with $2.9 billion in inflows.

• Short-Bitcoin products posted $12.7 million in inflows—the highest weekly figure since December 2024.

• Ethereum maintained steady gains, drawing $326 million in inflows, its strongest showing in 15 weeks and marking a fifth consecutive week of positive flows.

• XRP’s notable 80-week inflow streak ended, recording a significant outflow of $37.2 million, the largest on record.

The U.S. market dominated digital asset fund flows last week, accounting for $3.2 billion of the global total. Other regions contributed more modestly:

• Germany: $41.5 million

• Australia: $10.9 million

• Hong Kong: $33.3 million

• In contrast, Swiss investors opted to lock in gains amid recent price strength, resulting in outflows of $16.6 million

• Recent market trends reflect growing concerns over the U.S. economy, with the Moody’s downgrade and a spike in Treasury yields prompting many investors to diversify into digital assets.

• Bitcoin’s resilience in particular, as evidenced by strong inflows, suggests a sustained interest in digital assets as part of diversified portfolios.

• The inflows into short-Bitcoin products indicate that some market participants are positioning for potential downside or hedging against recent gains.

• Ethereum’s improved sentiment and consecutive weekly gains underscore its role as a complementary asset within diversified portfolios.

• XRP’s record outflow signals a shift in sentiment, ending a long streak of inflows.

The information contained in this document is for general information only. Nothing in this document should be interpreted as constituting an offer of (or any solicitation in connection with) any investment products or services by any member of the CoinShares Group where it may be illegal to do so. Access to any investment products or services of the CoinShares Group is in all cases subject to the applicable laws and regulations relating thereto.

Although produced with reasonable care and skill, no representation should be taken as having been given that this document is an exhaustive analysis of all of the considerations which its subject-matter may give rise to. This document fairly represents the opinions and sentiments of CoinShares, as at the date of its issuance but it should be noted that such opinions and sentiments may be revised from time to time, for example in light of experience and further developments, and this document may not necessarily be updated to reflect the same.

The information presented in this document has been developed internally and / or obtained from sources believed to be reliable; however, CoinShares does not guarantee the accuracy, adequacy or completeness of such information. Predictions, opinions and other information contained in this document are subject to change continually and without notice of any kind and may no longer be true after the date indicated. Third party data providers make no warranties or representation of any kind in relation to the use of any of their data in this doc
ument. CoinShares does not accept any liability whatsoever for any direct, indirect or consequential loss arising from any use of this document or its contents.

Any forward-looking statements speak only as of the date they are made, and CoinShares assumes no duty to, and does not undertake, to update forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Nothing within this document constitutes (or should be construed as being) investment, legal, tax or other advice. This document should not be used as the basis for any investment decision(s) which a reader thereof may be considering. Any potential investor in digital assets, even if experienced and affluent, is strongly recommended to seek independent financial advice upon the merits of the same in the context of their own unique circumstances.

This document is directed at, and only made available to, professional clients and eligible counterparties. For UK investors: CoinShares Capital Markets (UK) Limited is an appointed representative of Strata Global Limited which is authorised and regulated by the Financial Conduct Authority (FRN 563834). The address of CoinShares Capital Markets (UK) Limited is 1st Floor, 3 Lombard Street, London, EC3V 9AQ. For EU investors: CoinShares Asset Management SASU is authorised by the Autorité des marchés financiers (AMF) as an alternative investment fund manager (AIFM) under n°GP19000015. Its office is located at 17 rue de la Banque, 75002 Paris, France.

Copyright © 2025 CoinShares All Rights Reserved