Last week’s volatility across crypto and broader markets led to zero net flows in Ethereum investment products, according to Monday data from CoinShares.
That’s the first time since the new U.S.-based ETFs got approval last year that weekly flows based around the second-biggest crypto have evened out to zero.
Ethereum has taken a beating in recent days amid Trump tariff and trade war fears (as have most other crypto assets) and dropped Monday morning Eastern Time to as low as $2,368 at one point.
ETH’s price currency stands at $2,740, CoinGecko shows.
CoinShares Head of Research James Butterfill told Decrypt that it was rare for ETH investment products to have net zero flows. And it doesn’t help that “sentiment to Ethereum still seems to be in the doldrums,” he added.
“Ethereum ended the week with a net zero flows but suffered earlier in the week, likely due to its greater exposure to the technology sector and the global growth outlook,” CoinShares wrote in its report, which tracks crypto funds all around the world—not just in the U.S.
Crypto markets were rocked last week after Chinese artificial intelligence startup DeepSeek released a new open-source large language model that purportedly cost dramatically less to train than the biggest U.S. models.
The impressive new model led tech investors to rapidly sell their stakes in American AI-related companies, pulling crypto prices down with them.
Both Bitcoin and ETH got hit hard—but Bitcoin recovered, CoinShares added, noting that investors plugged a total of $486 million into funds around the world giving exposure to Bitcoin.
“Despite this initial sell-off, the market rebounded with over $1 billion in inflows later in the week,” CoinShares’ report said, referring to all crypto funds.
The trend had changed somewhat from the previous week when investors put nearly $2 billion in total into crypto investment funds following President Trump’s inauguration.
Things slowed down following the AI-related sell-off, though, and crypto prices have since faced downward pressure after U.S. President Donald Trump on Saturday announced tariffs against Canada, China, and Mexico.
And after President Trump revealed Monday that he and Mexican President Claudia Sheinbaum had a friendly conversation and delayed the U.S. tariffs and planned Mexican retaliation, crypto prices rebounded somewhat—though ETH continues to struggle.
The biggest coin is now down nearly 8% over the past day; Bitcoin is up 4% to $101,843.
CoinShares added that of all the altcoins with ETFs around the globe, XRP is the second most popular lately, with year-to-date inflows standing at $105 million.
Edited by Andrew Hayward
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