Global crypto investment funds saw $1.9 billion in inflows last week, according to a report from CoinShares. The surge can be attributed to two executive orders signed by former U.S. President Donald Trump. On Thursday, Trump signed an order establishing a “Presidential Working Group on Digital Asset Markets.” This group will focus on creating federal regulations for digital assets, including stablecoins. It will also explore the possibility of building a “strategic national digital assets stockpile.”
The executive orders show that governments are paying serious attention to cryptocurrency and its potential. This could lead to better regulation, which many investors see as a sign of stability and growth for the market. Earlier that week, Trump issued a full pardon for Ross Ulbricht, the founder of Silk Road, a platform connected to Bitcoin’s early history.
These actions reassured investors, leading to net inflows across all global crypto funds for the week, CoinShares’ Head of Research, James Butterfill, said in a Monday report.
U.S. Crypto Funds Brought $1.7B of the inflows
U.S.-based crypto funds accounted for $1.7 billion of the inflows. Other regions also saw increases, including Switzerland with $35 million, Canada with $31 million, and Germany with $23 million.
Bitcoin-based funds were the top performers, attracting $1.6 billion of the inflows. This brought their total inflows for the year to $4.4 billion, or 92% of the global total. U.S. spot Bitcoin ETFs alone contributed $1.8 billion to last week’s inflows.
Ethereum and Other Assets See Gains
Ethereum funds brought in $205 million last week. Of this, U.S. spot Ethereum ETFs contributed $139.4 million. XRP investment products also grew, adding $18.5 million, which extended their inflow streak to over $500 million since November. Other notable inflows included Solana ($6.9 million), Chainlink ($6.6 million), and Polkadot ($2.6 million).
Trading volumes remained high, totaling $25 billion for the week. This accounted for 37% of activity on trusted crypto exchanges. Despite this, the market experienced a sell-off on Monday, with Bitcoin’s price dropping below $100,000 after hitting an all-time high of $109,000 on January 20. Bitcoin was trading at $99,295 as of Monday.
