Digital asset fund flows | July 28th 2025

Digital asset inflows surge to record monthly highs amid Ethereum-led rally

• Digital asset investment products saw US$1.9B in inflows last week, bringing month-to-date inflows to a record US$11.2B.

• Ethereum attracted US$1.59B in inflows — its second-largest week ever — with YTD flows surpassing 2024 totals.

• While Solana and XRP saw strong inflows, Bitcoin recorded minor outflows (US$175m), highlighting potential ETF anticipation rather than a broad altcoin season.

Digital asset investment products saw US$1.9B in inflows last week, marking the 15th consecutive week of positive sentiment. This pushed month-to-date inflows to a record US$11.2B, significantly surpassing the US$7.6B seen in December 2024 following the US election. Regional flows were mixed.

The United States and Germany saw strong inflows of US$2B and US$70M respectively, offsetting outflows from Brazil (US$23.2M), Canada (US$84.3M), and Hong Kong (US$160M).

Ethereum stood out, unusually leading with US$1.59B in inflows last week, its second-strongest week on record. Year-to-date inflows into Ethereum have now reached US$7.79B, surpassing the total for all of last year.

Bitcoin, by contrast, experienced minor outflows totalling US$175M, a notable divergence from broader altcoin trends. This has raised the question of whether we are entering an "altcoin season." While inconclusive, there are some signs: Solana and XRP attracted substantial inflows of US$311M and US$189M respectively, with SUI also seeing US$8M. However, beyond these names, inflows tapered off quickly. Several altcoins saw outflows, including Litecoin (US$1.2M) and Bitcoin Cash (US$0.66M).

These altcoin inflows may be driven less by broad-based enthusiasm and more by anticipation surrounding potential US ETF launches.