TLDR;
- Crypto investment funds saw $3.29 billion in inflows from May 17–23, the second-largest weekly surge in 2025.
- Bitcoin dominated with $2.98B in inflows, mostly via U.S. spot ETFs; Ethereum followed with $326M
- XRP’s 80-week inflow streak ended with a record $37.2M outflow, while Solana and Sui posted modest gains.
- Long-term holders are still accumulating during these dips, signaling confidence amid short-term volatility.
Digital asset investment funds just recorded their second-largest weekly inflow of the year, with a staggering $3.29 billion pouring in between May 17 and 23, according to a Monday report from CoinShares.
The surge signals renewed institutional interest in crypto amid rising macroeconomic uncertainty and marks the sixth consecutive week of inflows.
BTC inflows Dominates, ETH Sees Rebound
Unsurprisingly, Bitcoin led the charge, attracting $2.98 billion, up from $557 million the week before. The bulk of these inflows came via U.S.-listed spot Bitcoin ETFs, which alone accounted for $2.75 billion, reflecting continued demand from institutional players using regulated vehicles to gain crypto exposure.
Ethereum also saw a sharp turnaround, with $326 million in weekly inflows,the highest in 15 weeks. Analysts credit the renewed optimism to Ethereum’s recent “Pectra” network upgrade, which improved scalability and efficiency. The update, combined with broader bullish sentiment, has helped reverse what had been a lukewarm start to the year for ETH-focused funds.
The altcoin market showed a mixed picture. While Solana and Sui-based products attracted $4.3 million and $2.9 million respectively, XRP faced a significant reversal. After an 80-week streak of continuous inflows, XRP products saw a record outflow of $37.2 million. This abrupt shift hints at a pivot in investor sentiment, though the reasons remain speculative, ranging from profit-taking to regulatory anxieties.
Total AUM Hits New Highs
The surge in weekly inflows pushed total assets under management (AUM) for crypto funds to an all-time high of $187.5 billion during the week, before settling slightly lower at $183.7 billion. Year-to-date, digital asset funds have attracted $10.8 billion, already surpassing 2024’s full-year total with seven months still to go.
The report attributes the continued momentum to growing concerns around the U.S. economy. Moody’s recent downgrade of the U.S. sovereign rating and a spike in Treasury yields have made traditional assets less attractive, prompting many investors to look at crypto as a hedge and alternative growth vehicle.
Geopolitical Shocks
While the inflows highlight growing institutional confidence, the crypto market’s price action has shown signs of hesitation. Despite the flood of new capital, Bitcoin’s price struggled to break above its previous all-time high. Analysts like Daan Crypto noted that “it wasn’t a great weekly candle,” suggesting that the inflow alone isn’t enough to sustain momentum without broader market conviction.
$BTC Not a great looking weekly candle for an all time high break.
Generally you want to see strong continuation especially considering the ~$2B+ in ETF inflows that came in since breaching that previous high.
Going to be an interesting week regardless. Epecially seeing the… pic.twitter.com/S35THDoNPq
— Daan Crypto Trades (@DaanCrypto) May 25, 2025
Meanwhile, CryptoQuant analyst Amr Tar observed that the recent price dip, where BTC briefly plunged from over $111,000 to below $109,000, triggered over $185 million in long position liquidations on Binance. However, this apparent market weakness also revealed that long-term holders (LTHs) used the dip to accumulate more Bitcoin. According to realized cap metrics, LTHs added significantly to their positions, pushing their net realized cap above $28 billion, a level last seen in April.
“It’s clear that long-term investors are using this period of forced selling to increase their exposure and accumulate more Bitcoin for the long run.” He wrote.” This strategic accumulation reinforces the foundation for future price appreciation.”
Global Crypto Activity Grows
Geographically, the U.S. continued to dominate the flow of funds, accounting for $3.2 billion of the total. Other notable inflows included Germany with $41.5 million, Hong Kong with $33.3 million, and Australia with $10.9 million. Switzerland was the notable exception, with $16.6 million in outflows, suggesting local investors may be locking in gains amid the recent price upticks.
