Global crypto investment funds issued by asset managers such as BlackRock, 21Shares, and Bitwise attracted $857.9 million in net inflows last week, a sixth consecutive positive week and the strongest weekly total since late April, according to CoinShares.
James Butterfill, the firm’s head of research, attributed the acceleration to improving sentiment around the Clarity Act. He specifically pointed to the stablecoin yield compromise that Senators Tillis and Alsobrooks released on May 1, which held up against banking-industry pushback days later.
Bitcoin (BTC) broke above $80,000 mid-week, its highest level since February, as the political tailwind built and crypto markets settled.
The Senate Banking Committee is set to mark up the legislation this week, with the White House eyeing a July 4 passage deadline, The Block previously reported.
Flows concentrate around bitcoin
Global bitcoin funds drew $706.1 million — the bulk of the weekly total — lifting year-to-date flows to $4.9 billion. Conversely, short bitcoin products posted $14.4 million in outflows, the largest weekly redemption in that category this year, as hedging positions unwound ahead of the rally.
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Ethereum (ETH) exchange-traded products also snapped a losing streak, drawing $77.1 million after $81.6 million in outflows the prior week, per CoinShares’ report.
Meanwhile, funds tracking Solana (SOL) added $47.6 million, and XRP products added $39.6 million, both representing step changes in recent weeks.
Multi-asset products were notably the only material drag, with $5.5 million in outflows.
Regionally, U.S.-based crypto investment vehicles generated $776.6 million — a sharp swing from $47.5 million the week prior, which The Block reported masked a volatile intraweek reversal.
BlackRock iShares ETFs led all providers with $733 million, followed by ARK 21Shares at $52 million and Bitwise at $41 million. Total assets under management also climbed to $160 billion. However, Grayscale bucked the broader trend, recording $63 million in outflows, bringing its year-to-date redemption total to $636 million.
Funds in Germany contributed $50.6 million, Switzerland $21.1 million, and the Netherlands $5.0 million, reflecting a broader European bid alongside the U.S. recovery.