Ether ETPs led last week’s crypto market, drawing the most significant inflows of nearly $270B after a 15-week $27.8B inflow streak ended.
After a record 15-week inflow run of $27.8 billion ended the previous week, imaCryptocurrency investment products reported gains last week.
CoinShares, a European crypto asset manager, announced on Monday that $572 million was invested in global crypto exchange-traded products (ETPs) during the trading week that concluded last Friday.
The recent inflows coincided with the price recovery of Bitcoin and Ether last week, with ETH hitting the psychological $4,000 barrier for the first time since December 2024.
The fresh gains caused total assets under management (AUM) to hit $226 billion for the first time, while year-to-date (YTD) inflows increased marginally to a new historic high of $30.7 billion.
Reaction Of Markets To 401(k) Approval
James Butterfill, head of research at CoinShares, believes that last Thursday, the US government’s announcement to allow digital assets in 401(k) retirement plans probably sparked last week’s resurgence of crypto ETP flows.
However, Butterfill added that outflows hit $1 billion early in the week, most likely due to growth fears brought on by disappointing US payroll data.
However, he said, “We saw $1.57 billion in inflows in the latter half of the week, likely spurred by the government’s announcement permitting digital assets in 401(k) retirement plans.”
Market Leader Was Ether ETPs
Ether ETPs led the market last week, drawing the most significant inflows of any cryptocurrency asset at about $270 billion, following their explosive surge in July.
Butterfill stated that recent price increases have caused the total assets under administration to reach an all-time high of $32.6 billion, up 82% this year, pushing year-to-date inflows to a new record of $8.2 billion.
According to CoinShares data, Bitcoin ETPs also had a notable rebound after two weeks of outflows, with inflows totaling $265 million last week.
Inflows of $21.6 million, $18.4 million, and $10.1 million were recorded by altcoin ETPs that follow Solana, XRP, and Near, respectively.