Investor rush into crypto products the largest since 2021 bull market high

The $767 million of net inflows into crypto offerings over the past six weeks surpasses the total seen in all of 2022

article-image

24K-Production/Shutterstock modified by Blockworks

share

Investor funds have continued to flow into cryptocurrency investment products in November, following a significant influx in October.

Net flows into crypto-related offerings hit $261 million last week, down slightly from $326 million the week before, according to CoinShares data. 

The total pushed the weekly net inflow streak to six. Crypto products have attracted a total of $767 million during that span, a sum that eclipses the total inflows — $736 million — seen in all of 2022. 

The six-week streak of net inflows surpasses a four-week run of inflows that totaled $742 million in July. It marks the largest since December 2021, CoinShares research head James Butterfill said in a Monday blog post.

CoinShares inflow chart

Bitcoin products accounted for most of the inflows, as those totaled $229 million last week.

The data indicates that US investors accounted for approximately 60% of the inflows, marking the largest regional share. This was a reversal from the week prior, when the majority of the inflows were directed towards products based in Canada and Germany.

This rush to such products is “likely buoyed by the increasing likeliness of a spot-based ETF in the US and weaker than expected macro data, bringing into question the efficacy of US monetary policy,” Butterfill wrote.

Read more: Is bitcoin’s ETF-fueled rally to $35K premature? Well, maybe

The US Securities and Exchange Commission has never permitted an ETF that would hold bitcoin directly. The regulator’s decision on a bitcoin ETF proposed by Ark Invest and 21Shares is due on Jan. 10 — at which point the SEC could also rule on similar plans by BlackRock, Fidelity and others.  

Ether-focused products notched net inflows of $17.5 million last week, according to CoinShares. Though significantly lower than flows generated by bitcoin offerings, the total was the highest for ether funds since August 2022. 

Ether’s (ETH) price was about $1,910 at 10:30 am ET — up 5% from seven days ago.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (2).png

Research

We’re bullish on the PUMP token. We believe Pump.fun's brand strength, existing integrations, product roadmap, and strategic levers justify PUMP's TGE valuation, and expect the token to re-rate meaningfully higher in the months ahead.

article-image

Crypto’s highest purpose might be to make markets better by making them bigger

article-image

The non-profit’s “Project Open” seeks to let stocks trade directly on Solana

article-image

The acquisition is Pump.fun’s first, and comes just days before its planned ICO

article-image

As Trump’s tariff war reignites, everyone is assuming the dollar will continue its path lower. But the journey might be bumpy

article-image

A valuation model for “blockchain GDP”

article-image

The mini app combines vibe-coding with a hypercasual game feed and is coming to the new Coinbase Wallet