Digital asset investment products staged a powerful rebound last week, attracting $1.07 billion in inflows after nearly a month of heavy selling pressure.
The turnaround followed four consecutive weeks of outflows totaling $5.7 billion, signaling a clear shift in sentiment as investors responded to fresh expectations of a U.S. interest-rate cut. Comments from FOMC member John Williams, who emphasized that monetary policy remains restrictive, ignited optimism that easing could arrive as early as this month.
Despite subdued trading volumes due to the U.S. Thanksgiving holiday, the renewed appetite for crypto exposure was unmistakable and broad-based.
United States Leads Global Rebound With Nearly $1B in Inflows
The United States dominated the weekly inflow data, pulling in $994 million, even though holiday trading volumes remained relatively low. Other regions also contributed meaningfully: Canada recorded $97.6 million, while Switzerland added $23.6 million.
Asia showed a mixed picture. Hong Kong managed modest inflows of $3.1 million for the week but remains in negative territory month-to-date. Germany was one of the few countries experiencing continued weakness, posting $55.5 million in outflows, reinforcing its trend of persistent investor caution.
Across all regions, total month-to-date flows remain negative at –$3.22 billion, but the weekly reversal marks a potential inflection point.
Bitcoin, Ethereum and XRP Drive the Recovery
Bitcoin attracted $464 million as investors reversed earlier bearish positioning. This shift was further highlighted by $1.9 million in outflows from short-Bitcoin products, suggesting fading expectations of deeper price declines.
Ethereum followed with $309 million, reflecting improved sentiment after weeks of underperformance tied to broader market uncertainty.
The biggest standout, however, was XRP, which recorded $289 million, its largest weekly inflow ever. Over the past six weeks, XRP’s cumulative inflows now represent 29% of its total assets under management, a surge analysts associate with the recent U.S. ETF launches and growing institutional comfort with XRP-based investment vehicles.
In contrast, Cardano was one of the few assets to see a sharp decline, registering $19.3 million in outflows, equivalent to 23% of its AUM.
Provider Breakdown: BlackRock and Fidelity Absorb Massive Demand
Among ETP issuers, iShares (BlackRock) led the inflow wave with $120 million, despite still showing heavy month-to-date net outflows. Fidelity’s Wise Origin Bitcoin Fund followed with $230 million, strengthening its position as one of the most resilient issuers in recent weeks.
Smaller providers like 21Shares and ProShares also saw inflows, while Grayscale continued to struggle, showing a month-to-date outflow of $606 million and a year-to-date decline of $3.01 billion, reinforcing the long-term impact of fee competition and structural redemptions.
A Potential Sentiment Shift or a Temporary Bounce?
The sudden return of more than $1 billion into crypto ETPs suggests that the market may be positioning ahead of potential macro catalysts. Investors appear increasingly sensitive to interest-rate signals, and last week’s inflows indicate faster responsiveness compared to previous cycles.
However, with month-to-date flows still significantly negative, the coming weeks will determine whether this rebound marks the start of a broader recovery or simply a temporary stabilization following October–November volatility.
For now, the momentum clearly favors Bitcoin, Ethereum, and especially XRP, which is enjoying one of its strongest institutional moments in years.
