However, the overall value of assets under management slipped from $187 billion to $177 billion, reflecting recent market declines.
CoinShares’ Head of Research, James Butterfill, pointed to growing economic uncertainty in the US as a key driver behind the dip.
Despite the turbulence, US-based products still attracted the most capital, with $199 million in inflows. Germany and Australia followed with $42.9 million and $21.5 million, respectively.
Hong Kong also saw a surge in activity, posting $54.8 million in new inflows, its highest since local crypto ETFs launched.
In contrast, Switzerland faced $32.8 million in outflows, joining Sweden and Brazil in registering weekly losses of $4 million and $3.2 million, respectively.
According to the CoinShares report, Ethereum funds brought in $321 million, outpacing Bitcoin and signaling a possible shift in investor sentiment. This marked Ethereum’s sixth straight week of inflows, now totaling $1.19 billion, its strongest run since late 2024.
CoinShares noted that the trend reversal came mid-week, following the court’s tariff ruling. What began as a week of inflows quickly turned into cautious withdrawals as investors reacted to the renewed trade policy uncertainty.
This data suggests a shifting landscape where Ethereum is gaining momentum while Bitcoin temporarily takes a back seat in the face of macroeconomic headwinds.
