Crypto investment products see $1.3 billion in weekly inflows despite Trump tariff woes: CoinShares
Global crypto investment products run by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered net inflows of $1.3 billion last week, nearly doubling from $747.4 million the week before despite President Trump’s tariff-fueled price plunge, according to CoinShares.
It marks a net inflow streak that now extends to five consecutive weeks, with the funds attracting a total of $7.3 billion year-to-date, CoinShares Head of Research James Butterfill noted in a Monday report. Weekly trading volume for the products also held steady at $20 billion, though recent price declines have seen assets under management drop to $163 billion from their $181 billion record peak in January.
Weekly crypto asset flows. Images: CoinShares.
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 on Feb. 3. Other cryptocurrencies saw deeper corrections — with ether collapsing by approximately 36% to around $2,100 and the GMCI Meme index of leading memecoins dropping around 40% in just a few days.
Bitcoin subsequently bounced back above the $100,000 mark in a volatile trading day last Monday that saw the foremost cryptocurrency trade in a range of more than $10,000 following reports that new tariffs on Mexico and Canada would be paused for a month after an agreement between the respective governments. However, the market began to slide again after China announced retaliatory tariffs on U.S. imports, including 15% on coal and LNG and 10% on crude oil and agricultural machinery.
Bitcoin is currently trading for $97,817 and ether $2,647, according to The Block’s Prices Page.
‘Ethereum stole the show’
Despite the negative price action, Bitcoin-based funds added $407 million in net inflows last week, with global investment products now representing 7.1% of its current market capitalization, Butterfill noted.
The U.S. spot Bitcoin exchange-traded funds represented $203.8 million of the overall net inflows, according to data compiled by The Block.
Meanwhile, “Ethereum stole the show,” with ether-based funds generating net inflows of $793 million last week — outpacing bitcoin funds for the first time this year amid “significant buying-on-weakness,” Butterfill said.
The U.S. spot Ethereum ETFs registered $420.2 million of those net inflows last week, per The Block's data dashboard.
Meanwhile, XRP-based funds were the third-best performing altcoin investment product globally, adding a further $21 million last week, with Solana products bringing in $11 million.
Regionally, the U.S. led with $1 billion in overall net inflows, while funds in Germany, Switzerland and Canada registered inflows of $61 million, $54 million and $37 million, respectively.