Global crypto funds faced a sharp downturn last week as investors pulled $812 million, according to CoinShares. The biggest drops came from Bitcoin and Ethereum products. Meanwhile, Solana saw $291 million in inflows, a move tied to rising hopes for U.S. exchange-traded fund approvals.
According to a blog post, total assets under management fell to $221 billion from a record $241 billion the week before.
James Butterfill, head of research at the firm, explained that the losses followed signs of stronger U.S. growth, which reduced expectations for interest rate cuts. Bitcoin fell 3.4% during the same period, dropping from $112,000 to an intraweek low of $109,000, data from CoinMarketCap showed.
He further noted that while Bitcoin funds lost $719 million and Ethereum funds shed $409 million, Solana stood out as the only major asset to see strong gains. XRP also attracted inflows of $93.1 million, suggesting some investors were positioning ahead of regulatory decisions.
Friday’s crypto ETP flows by asset | Source: Coinshare
“The anticipation of forthcoming ETF launches in the U.S. likely drove Solana’s positive flows,” Butterfill said in the report.
Notably, Regional differences were clear. The United States recorded $1 billion in outflows, while Switzerland added $126.8 million, Canada $58.6 million, and Germany $35.5 million.
The report that despite last week’s pullback, digital asset funds kept solid inflows overall, with $4 billion for the month and $39.6 billion so far this year, close to last year’s record of $48.6 billion.
Meanwhile, ETF watchers said the coming weeks may be critical. Nate Geraci, president of NovaDius Wealth Management, described this period as “enormous” for altcoin ETFs as the U.S. Securities and Exchange Commission faces several deadlines.
The SEC is first expected to rule on Canary Capital’s Litecoin ETF, followed by decisions on Solana, XRP, Dogecoin, Cardano, and Hedera products. Geraci said the agency could approve “any or all of these whenever.”
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