Global crypto investment products pulled in $857.9 million last week, stretching a positive run to six consecutive weeks. The bulk went to bitcoin-based funds, which added $706.1 million and pushed year-to-date flows past $4.9 billion. Short bitcoin products saw their biggest outflows of the year at $14.4 million — a sign that bearish bets are fading. CoinShares head of research James Butterfill tied the surge to progress on the CLARITY Act, the crypto market structure bill that cleared a Senate Banking Committee markup session on Thursday.
Bitcoin and Ethereum lead the charge
Bitcoin funds dominated, but Ethereum also reversed course. After $81.6 million in outflows the prior week, Ethereum products recorded $77.1 million in inflows. Solana and XRP funds added $47.6 million and $39.6 million, respectively. The only category that bled was multi-asset products, which lost $5.5 million. U.S. funds alone accounted for $776.6 million of the weekly total, a sharp recovery from the prior week's $21.1 million.
US ETFs post best month since October 2025
April was a blockbuster for U.S. crypto ETFs. They pulled in over $2 billion — the best monthly performance since October 2025. Bitcoin ETFs led with $1.97 billion. Solana funds extended their positive streak to seven months with $38.69 million. Ethereum and XRP ETFs also bounced back after a rough patch. The numbers suggest institutional appetite hasn't cooled, even as regulators hash out new rules.
CLARITY Act momentum builds
Butterfill credited the inflows to the CLARITY Act's progress. The Senate Banking Committee held a markup session on May 14, moving the bill closer to a floor vote. That same week, Senators Thom Tillis and Angela Alsobrooks released the final text of a stablecoin yield compromise. Banking trade groups pushed for amendments, but Senate sources described their effort as 'milquetoast.' Members reportedly shifted attention to other issues like ethics, leaving the compromise largely intact.
Exchanges push back on manipulation clause
Not everyone is happy with the bill's details. Coinbase, Kraken, and Gemini urged lawmakers to scrap a provision that would require exchanges to list only digital assets 'not readily susceptible to manipulation.' Their argument: the standard is too vague and impossible to apply fairly across thousands of tokens. The clause remains one of the last unresolved sticking points as the CLARITY Act heads toward a broader debate.
The next concrete test comes when the bill hits the Senate floor. Tillis and Alsobrooks will have to defend their stablecoin compromise against any lingering pushback from both banks and crypto advocates. For now, the money keeps flowing in.
