CoinShares reports show that last week, cryptocurrency ETPs attracted $2.17 billion, reaching a new high since October. Bitcoin attracted $1.55 billion, accounting for 71%, while Ethereum received $496 million. On Friday, due to geopolitical tensions in Greenland, outflows reached $378 million. The US led with $2.05 billion, and blockchain stocks attracted $72.6 million.
Bitcoin attracted $1.55 billion, accounting for 71% of inflows
(Source: CoinShares)
Last week, cryptocurrency investment products continued to heat up, with capital inflows surpassing any week so far in 2026, marking the largest increase since October. European crypto asset manager CoinShares reported on Monday that last week, cryptocurrency ETPs attracted $2.17 billion in capital inflows.
Most of the gains in cryptocurrency funds last week were concentrated in Bitcoin, which saw $1.55 billion in inflows, accounting for over 71% of total weekly inflows. This dominance is not accidental but reflects ongoing confidence among institutional investors in Bitcoin as the preferred crypto asset. Bitcoin ETPs, including spot ETFs and other structured products, provide institutional investors with compliant and convenient channels for Bitcoin investment.
The $1.55 billion weekly inflow is among the highest in Bitcoin ETP history. Such a scale of capital inflow typically occurs during optimistic market sentiment, price breakthroughs of key resistance levels, or major positive news. Timing-wise, this wave of inflows happened during Bitcoin’s price oscillations between $90,000 and $100,000, indicating that institutional investors are taking advantage of price pullbacks to increase holdings.
The 71% share is also noteworthy. During previous bull cycles, capital often rotated among Bitcoin, Ethereum, and altcoins. But current data shows that new funds are highly concentrated in Bitcoin, reflecting a conservative strategy among institutional investors. They prioritize the most mature, liquid, and regulated assets, while remaining cautious about higher-risk altcoins.
(Source: CoinShares)
From the structure of the cryptocurrency ETP market, Bitcoin products vastly outnumber and outscale other assets. Leading asset managers like BlackRock and Fidelity have launched spot ETFs that channel massive capital inflows into Bitcoin. In contrast, other crypto assets have fewer ETP products and smaller scales, naturally leading to concentrated capital flows.
Cryptocurrency ETP Capital Inflows Distribution Last Week
Bitcoin: $1.55 billion (71.4%)
Ethereum: $496 million (22.9%)
XRP: $69.5 million (3.2%)
Solana: $45.5 million (2.1%)
Other Altcoins: approximately $8.3 million (0.4%)
Friday Geopolitical Events Triggered $378 million Reversal
CoinShares research director James Butterfill stated that most capital inflows occurred earlier in the week, but on Friday, market sentiment shifted due to escalating geopolitical tensions in Greenland and new tariff concerns, resulting in a $378 million outflow. Such intra-week sentiment reversal is not uncommon in the crypto ETP market, but the scale is noteworthy.
The $378 million single-day outflow accounts for 17.4% of total weekly inflows. This means that net inflows from Monday to Thursday actually reached about $2.55 billion, with Friday’s sell-off offsetting a significant portion. This sharp shift in sentiment indicates that crypto ETP investors are highly sensitive to macro risks.
Butterfill added, “Market sentiment was also impacted by news such as the leading candidate for the next Federal Reserve chair, and well-known dovish policymaker Kevin Hasset, is likely to continue in his current role.” The sell-off was triggered because Hasset’s continuation in the White House suggests a more hawkish candidate might succeed as Fed chair, prompting market adjustments in rate cut expectations.
Geopolitical risks are increasingly impacting crypto ETPs. Previously, some investors viewed cryptocurrencies as assets with low correlation to traditional financial markets. But with ETF and institutional capital entering, the linkage between cryptocurrencies and macroeconomic and geopolitical events has strengthened significantly. Trump’s tariff threats on Greenland not only affected stocks and bonds but also immediately reflected in crypto ETP fund flows.
This increased linkage signals market maturity but also means cryptocurrencies are no longer entirely independent assets. When global risk events occur, crypto ETPs can also experience capital withdrawals, which may require investors expecting cryptocurrencies to serve as safe havens to reassess their views.
Ethereum and Altcoin ETP Performance Diverges
Ethereum funds attracted $496 million, with XRP and Solana subsequently receiving capital, approximately $69 million and $45 million respectively. Smaller altcoins like Sui and Hedera recorded inflows of $5.7 million and $2.6 million.
While Ethereum’s $496 million inflow is much lower than Bitcoin’s, it still accounts for 22.9% of total inflows, solidifying its position as the second-largest crypto asset. Despite the US Senate Banking Committee’s proposed CLARITY Act potentially restricting stablecoin yields, Ethereum still saw strong inflows. This indicates that investor allocations to Ethereum are driven not only by stablecoin demand but also by its long-term value as a smart contract platform.
XRP and Solana’s performance is also noteworthy. XRP attracted $69 million mainly due to positive news related to Ripple and the advancement of XRP ETF applications. Solana’s $45 million inflow reflects its continued appeal as a high-performance blockchain. Compared to other altcoins, these projects’ crypto ETP products are more mature and liquid, making them more attractive to institutional capital.
Smaller altcoins like Sui and Hedera, despite limited inflows, still received several million dollars, indicating market recognition. Their ETP product offerings are fewer but are gradually establishing a presence.
Regional and Asset Class Distribution: US Leads
Regionally, positive sentiment is widespread, with the US leading, with capital inflows of $2.05 billion, followed by Germany, Switzerland, Canada, and the Netherlands, with inflows of $63.9 million, $41.6 million, $12.3 million, and $6 million respectively. The US’s $2.05 billion accounts for 94.5% of total inflows, highlighting its dominance as the global center for crypto ETP markets.
Blockchain stocks performed very strongly this week, with total inflows of $72.6 million. Blockchain stocks include publicly traded companies like MicroStrategy, Coinbase, Marathon Digital, which hold crypto assets or engage in blockchain businesses. These stocks offer traditional investors indirect exposure to the crypto market while benefiting from stock market regulation and liquidity.
Despite sentiment reversal later in the week, a strong $2.17 billion still flowed in, underscoring ongoing investor interest in the entire digital asset ecosystem.
