Digital asset products attracted $224 million in inflows last week, driven mainly by strong gains in Ethereum exchange-traded funds (ETFs) and BlackRock’s iShares Bitcoin Trust (IBIT).
Ethereum products recorded $296.4 million in inflows, marking their seventh straight week of net gains and bringing total inflows to $1.5 billion. This accounts for 10.5% of the total assets under management (AuM) in Ethereum products, according to James Butterfill, CoinShares Head of Research.
In contrast, Bitcoin ETFs experienced $56.5 million in outflows for the second week in a row. US spot Bitcoin ETFs briefly saw inflows midweek but reversed to outflows after public disputes between former President Donald Trump and Tesla CEO Elon Musk over a proposed US bill.
Musk criticized the bill for potentially increasing the US deficit by $3 trillion and warned it could lead to a recession. Trump responded by threatening to withdraw government contracts and subsidies from Musk’s companies.
Despite these outflows, BlackRock’s IBIT surpassed $70 billion in assets under management, becoming the fastest ETF to hit this milestone in just 341 trading days—five times quicker than the previous record held by the SPDR Gold Shares (GLD) ETF, Bloomberg analyst Eric Balchunas reported.
Separately, the business intelligence firm Strategy boosted its Bitcoin holdings by purchasing 1,045 BTC for $110.2 million at an average price of $105,426 per BTC.
This raises its total Bitcoin holdings to 582,000 BTC, acquired at an average price of $70,086 each. The purchase followed Strategy’s announcement of a $1 billion upsized offering of its Series A Perpetual Stride Preferred Stock (STRD).
Strategy’s Bitcoin investment approach continues to attract corporate interest. The Blockchain Group recently launched a €300 million capital program with asset manager TOBAM to expand its Bitcoin treasury.
Bitcoin prices rose 2% on Monday, trading above $108,000, supported by reports of positive tariff discussions between US and Chinese officials in London.
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