Crypto Funds Attract $3.5 Billion in One Week, Yearly Record

An Annual Record Driven by Bitcoin

Cryptocurrency investment products attracted $3.55 billion last week, setting a new weekly record for this year.

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According to the latest biweekly report from CoinShares, a French asset manager specializing in cryptocurrencies, Bitcoin (BTC)-backed products garnered $2.52 billion. Funds on Ether (ETH) attracted $702 million, those on Solana (SOL) $193 million, and those on XRP $92.3 million.

Weekly inflows of cryptocurrency investment products. Source: CoinShares.

In the United States, spot Bitcoin ETFs alone recorded $2.39 billion in inflows for the week, while Ether ETFs captured $690 million. Both categories saw positive flows during all five sessions. However, the momentum significantly slowed on Monday, with inflows of $31 million and $17 million, respectively.

Globally, all cryptocurrency investment products tracked by CoinShares now represent approximately $173 billion in assets under management. Since the beginning of the year, their net inflows have reached $8.6 billion.

The Fed Has Lifted Uncertainty

The macroeconomic context remained unfavorable for Bitcoin. On September 16, the Federal Reserve (Fed) raised its benchmark rates by 0.25 points, to a range of 3.75% to 4%. The increase was widely anticipated, but the central bank's message turned out to be more restrictive than expected, notably with the elimination of previously considered rate cuts for 2027. Such an environment typically weighs on risky assets like cryptocurrencies.

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Bitcoin had also been weakened by a regulatory setback in the United States. On September 15, the Senate failed to advance the CLARITY Act, a bill intended to establish a framework for the crypto market: the closure motion received only 49 votes against 50, far from the 60 needed.

Why, under these conditions, did capital return? According to CoinShares, the blockage of the CLARITY Act ultimately proved less detrimental than it seemed, as the SEC had already established its own framework for digital assets. Regulatory uncertainty has thus partially diminished. At the same time, large holders continued to accumulate Bitcoin, and the decline of oil prices below $100 slightly eased inflationary fears.

BTC rose above $87,000 on September 23, and its price is nearly $84,000 at the time of writing.

The United States Captures Most Flows

American funds concentrated $3.43 billion in inflows. Germany follows with $73.9 million, ahead of Canada ($21.8 million) and Switzerland ($20.9 million).

Markets now estimate the probability of another rate hike in October at around 72%. The core PCE index (excluding energy and food), the inflation measure favored by the Fed, is published on Wednesday, September 30. The U.S. employment report comes out on Friday, October 2. For CoinShares, a decline in inflation or oil would help Bitcoin hold the $80,000 mark.

Sources: CoinShares

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