Cryptocurrency investment products maintained their multi-week inflow streak last week despite significant selling pressure stemming from Bitcoin’s drop to $103,000.
Global crypto exchange-traded products (ETPs) recorded $286 million of inflows in the week ending May 30, bringing a seven-week run of inflows to $10.9 billion, CoinShares reported on June 2.
Despite the inflows, total assets under management (AUM) declined from the all-time high of $187 billion to $177 billion by the weekend amid market volatility triggered by uncertainty over US tariffs, said CoinShares’ head of research, James Butterfill.
The new inflows came as Bitcoin (BTC) tumbled about 6% from $110,000 last Monday to an intraweek low of $103,400 by May 30, according to data from CoinGecko.
Ether ETPs lead inflows
Ether (ETH) ETPs led last week’s crypto ETP buying with inflows totaling $321 million, marking the strongest run since late December 2024 and reflecting a significant sentiment improvement.
Bitcoin ETPs saw $8 million in outflows after a major flow reversal following a New York Court decision to declare US tariffs illegal, Butterfill said.
XRP (XRP) investment products posted the biggest outflows last week, totaling $28 million. The outflows marked a second week running of losses for XRP, Butterfill noted.
iShares ETFs top inflows despite BTC ETF outflows
BlackRock’s iShares exchange-traded funds (ETFs) led inflows among issuers last week despite seeing massive outflows from Bitcoin ETFs at the end of the week.
According to CoinShares, iShares ETFs saw $790 million of inflows, with YTD inflows surging to $12.4 billion. At the same time, iShares’ AUM slipped from $74.8 billion in the previous week to $72.9 billion last week, reflecting a downward trend in Bitcoin ETFs.
ARK Invest and 21Shares’ crypto investment products saw the biggest losses among issuers last week, totaling $282 million and bringing YTD flows to $22 million of outflows.
Profit taking and seasonal weakness for BTC
The flow reversal in Bitcoin ETPs came after six weeks of healthy inflows in BTC products, with the new losses being attributed to many factors supporting the overall decline of crypto markets last week.
According to Cointelegraph Markets, crypto prices have historically seen mixed performances in the month of June, suggesting potential seasonal weakness.
Previous reports also suggested that some investors have been taking advantage of Bitcoin surging past $110,000, with long-term investors quietly capitalizing on the recent price drops.
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Ether ETPs have been on the rise amid improving network fundamentals and resilient ETH futures markets.
Ether’s renewed growth followed a long bearish period, which forced some trading firms to drop ETH support in early May and view it “like a memecoin.” On the other hand, some ETH supporters speculated that Ether’s decline in May marked the asset’s bottom, which hinted at a potential reversal of the negative trend.
According to CoinGecko, Ether was trading at $2,486 by publishing time, down from $2,771 on May 28. The cryptocurrency has added 36% to its value in the past 30 days.
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