Global crypto funds run by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered net inflows of $527 million last week, down 72% from $1.9 billion the week before amid concerns over potential trade tariffs from President Trump and the DeepSeek-fueled market dislocation, according to CoinShares.
“Intraweek flows reflected volatile investor sentiment, heavily influenced by broader market concerns, such as the DeepSeek news, which triggered $530 million in outflows on Monday,” CoinShares Head of Research James Butterfill said in a Monday report. However, the market rebounded with over $1 billion worth of net inflows later in the week.
Weekly crypto asset flows. Images: CoinShares.
While concerns surrounding potential tariff implementations from President Trump were already a concern going into Friday’s close, his subsequent official announcement over the weekend is yet to be reflected in global crypto fund flows but is likely to have a significant impact over the coming days.
Responding to President Trump's plan to implement 25% tariffs on imported goods from Canada and Mexico, with 10% tariffs on Canadian energy and Chinese goods, bitcoin fell more than 10% to a low of around $91,500 from its Saturday high. Other cryptocurrencies saw deeper corrections — with ether collapsing by approximately 36% and the GMCI Meme index of leading memecoins dropping 40% over the past few days. Bitcoin is currently trading for $94,983 and ether $2,568, according to The Block’s Prices Page.
“Given the $44 billion in inflows seen in 2024, $5.3 billion inflows year-to-date and significant price gains, the current sell-off is not unexpected,” Butterfill said on Monday.
Bitcoin-based funds dominated last week’s global net inflows, adding $486 million, while short-bitcoin products also added $3.7 million amid the price action. The U.S. spot Bitcoin exchange-traded funds represented $559.5 million of the overall net inflows, according to data compiled by The Block.
Ethereum-based funds ended the week with net zero flows — suffering due to greater exposure to the technology sector and the global growth outlook, Butterfill said. The U.S. spot Ethereum ETFs registered $45.3 million of net outflows last week, per The Block's data dashboard.
Meanwhile, XRP-based funds were the second-best performing altcoin investment product globally, adding a further $15 million last week, bringing year-to-date inflows to $105 million.
Regionally, the U.S. led with $474 million in overall net inflows, while Europe-based funds also added $78 million. However, crypto investment products in Canada saw net outflows of $43 million — potentially due to the threat of trade tariffs imposed by the U.S., Butterfill said.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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