Bitcoin and Ethereum exchange-traded funds pulled in a combined $593 million last week, the strongest inflow period in months, as escalating geopolitical tensions sent investors hunting for assets outside the traditional financial system.
Where the money went
The bulk of the inflows landed in spot bitcoin ETFs, which accounted for roughly two-thirds of the total. Ethereum funds took the rest. The numbers, compiled by the firms that manage the funds, mark a sharp reversal from the outflows seen in late April. Issuers declined to comment on specific flows.
Why now
The timing aligns with a series of geopolitical flashpoints that have rattled equity and bond markets. While the precise trigger isn't clear, fund flows often spike when investors worry about currency devaluation or capital controls. Crypto ETFs offer a regulated way to get exposure without holding the assets directly.
Not just a bitcoin story
Ethereum's share of the inflows — roughly $200 million — suggests institutional appetite is broadening beyond bitcoin. That's a shift from earlier this year, when ether funds struggled to match their bitcoin counterparts. The seven-day streak is the longest for ether ETFs since they launched in 2024.
ETF analysts will be watching this week's numbers to see if the momentum holds. Geopolitical risks show no signs of easing, but flows can reverse just as quickly. The next batch of data is due Wednesday.
