global-crypto-funds-log-858m-inflows
AI · · 1 min read · theblock.co ↗
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.
Bitcoin 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.
Ethereum 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 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.
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.