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

Cover Chart.png

Research

The tokenization wave has arrived for trading cards, with protocols like Collector Crypt and Phygitals leading the charge. By tapping into the same dopamine loops that made Pop Mart’s Labubu blind boxes a phenomenon, their gacha mechanics show how TCGs can thrive in a crypto-native setting. Yet with razor-thin margins, limited product differentiation, and hype-driven cycles, building a lasting moat is a challenge. In my latest report, I share insights from the Collector Crypt and Phygitals teams on the opportunities and risks shaping onchain TCGs and what comes next for them.

article-image

Our take on durability, valuation, and fundamental catalysts

by Carlos /
article-image

Acquisition of Copium Capital’s strategies strengthens Barter’s offering, but raises questions about solver concentration

article-image

The company says the acquisition strengthens its push to simplify DeFi for consumers

by Blockworks /
article-image

Cboe Futures Exchange aims to introduce long-dated crypto contracts under US regulatory oversight

by Blockworks /
article-image

Client engineers and coordinators earn far less than researchers, despite playing key roles in network stability

article-image

One of the new hires was formerly FTX’s global head of payments