Digital Asset Fund Flows | May 12th 2025

US ETFs reached a record US$62.9bn in cumulative net inflows

• Digital asset investment products saw US$882m in inflows last week, marking four consecutive weeks of gains and bringing YTD inflows to US$6.7bn.

• Bitcoin dominated with US$867m in inflows, while US ETFs reached a record US$62.9bn in cumulative net inflows since launching in January 2024.

• Sui outperformed major altcoins, attracting US$11.7m in inflows last week and surpassing Solana in YTD flows (US$84m vs US$76m).

Digital asset investment products recorded a fourth consecutive week of inflows, totaling US$882m globally. Year-to-date (YTD) inflows now stand at US$6.7bn, approaching the US$7.3bn peak reached in early February this year. We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset.

Regionally, the United States, Germany, and Australia saw inflows of US$840m, US$44.5m, and US$10.2m respectively. In contrast, Canada and Hong Kong experienced modest outflows of US$8m and US$4.3m.

Bitcoin dominated inflows, attracting US$867m globally last week. It also reached a new milestone, as US-listed ETFs recorded cumulative net inflows of US$62.9bn since their launch in January 2024, surpassing the previous high of US$61.6bn set in early February.

Despite Ethereum’s sharp price appreciation, its inflows were relatively muted at just US$1.5m last week. Notably, Sui outperformed with US$11.7m in inflows, overtaking Solana, which saw US$3.4m in outflows. On a year-to-date basis, Sui has now attracted US$84m overtaking Solana’s US$76m.

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