Digital asset investment products bounced back from recent weakness last week, attracting $2.48 billion of inflows and bringing August’s total to $4.37 billion and year-to-date inflows to $35.5 billion. This comes even as total assets under management fell roughly 10% from their recent peak to about $219 billion. The data come from CoinShares’ latest weekly report, Volume 249.
Investors piled into risk assets through most of the week, but flows turned slightly negative on Friday after the U.S. Core PCE inflation print failed to strengthen hopes for a Fed rate cut in September, a development traders said trimmed risk appetite and prompted short-term profit-taking. The Bureau of Economic Analysis shows the Core PCE release for July was published on August 29, 2025, the datapoint that appears to have prompted the late-week pause in inflows.
Regionally Driven but Globally Distributed
Regionally, the story was led by the United States, which accounted for $2.29 billion of last week’s inflows. Other notable regional inflows were recorded in Switzerland ($109.4m), Germany ($69.9m) and Canada ($41.1m). CoinShares notes that the geographic spread of inflows suggests Friday’s pullback looked more like profit-taking than a structural reversal in investor appetite for digital assets.
The big headline in the asset-class breakdown: Ethereum continues to outpace Bitcoin in investor allocations. Last week, ETH-focused products drew $1.4 billion in inflows versus $748 million for Bitcoin products. For the month of August, Ethereum products amassed $3.95 billion, while Bitcoin-dedicated products posted net outflows of $301 million for the month.
CoinShares also highlighted inflows into Solana and XRP, beneficiaries of optimism around potential U.S. spot-ETF pathways, which posted $177 million and $134 million, respectively. The fund flows arrived against a choppy price backdrop. Bitcoin was trading just above $108,000 on Monday, leaving the largest crypto comfortably above the six-figure mark but off intra-month highs.
Ethereum has been notably more volatile, trading in the $4,300–4,400 band during the same session. That dynamic, steady institutional demand for ETH products alongside some take-profits in Bitcoin helps explain why flows favored Ethereum in August.
Technically, analysts pointed to two competing forces: (1) structural accumulation and ETF-related allocation into ETH, which supports medium-term bid; and (2) macro-driven spikes in volatility (e.g., the Core PCE surprise) that trigger rotational selling and compress short-term risk appetite. The result has been healthy headline inflows but a slightly lower AUM figure as negative price momentum offset some of the capital gains embedded in ETPs.
August closed as a net positive month for digital asset investment products, with $4.37 billion of inflows even as headline AUM dipped amid market volatility. Ethereum’s clear lead in product flows and growing attention on altcoins tied to potential ETF approvals will be the key story to watch heading into September as investors parse upcoming U.S. economic data and any further regulatory news around crypto ETFs.
