Crypto ETF inflows slow to $230M as Fed caution dents momentum: CoinShares

Crypto investment products maintained their inflow streak last week but momentum slowed amid ongoing Middle East tensions and a “hawkish pause” interpretation of the US Fed’s meeting.

Crypto exchange-traded products (ETPs) recorded $230 million in inflows last week, with $405 million in outflows following the Federal Open Market Committee (FOMC) meeting in the US, CoinShares reported Monday.

The inflows extended the streak to four consecutive weeks, but the latest total was sharply lower than the previous week’s $1.06 billion.

CoinShares head of research James Butterfill largely attributed the slowdown to the market’s “hawkish pause” interpretation of the US Federal Reserve’s Wednesday meeting, rather than broader geopolitical tensions.

“The intra-week data supports this,” Butterfill said, referring to strong inflows in the first two days of the week before reversing sharply in the wake of the FOMC meeting.

Bitcoin funds lead inflows, while Ether reverses

Bitcoin (BTC) accounted for nearly all of last week’s crypto ETP inflows, posting $219.2 million in gains. Ether (ETH) funds saw $27.5 million in outflows, ending a three-week inflow streak.

Solana (SOL) saw $17 million in inflows, its seventh straight week, which now totals $136 million, making it one of the most popular ETP assets in recent months.

Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

Additionally, notable gains came from Chainlink (LINK) and Hyperliquid (HYPE), with inflows netting $4.6 million and $4.5 million, respectively.

Crypto ETPs have clocked $1.4 billion of inflows year-to-date, with Bitcoin ETPs leading at $1.2 billion. Total assets under management stand at $138 billion, according to CoinShares.

US spot Bitcoin ETFs account for 43% of gains

About half of Bitcoin ETP inflows were driven by the US spot Bitcoin exchange-traded funds (ETFs) last week, which ended the week with $95.2 million in inflows.

The inflows marked four consecutive weeks of gains totaling $2.2 billion. Despite the gains, spot Bitcoin ETFs remain underwater year-to-date, with roughly $400 million in outflows.

Weekly flows in spot Bitcoin ETFs since February. Source: SoSoValue

Similar to broader investment products, US spot Ether ETFs failed to maintain the inflow streak after three weeks of inflows, with last week’s outflows totaling around $60 million.

The US spot Ether ETFs have seen $599 million in outflows year-to-date, while broader ETPs were roughly $50 million underwater.