Ethereum Funds Drop $81.6M Despite Big Friday ETF Inflows

CoinShares reported that Ethereum funds recorded $81.6 million in outflows for the week, ending a three-week run of inflows that averaged above $190 million.

Total digital asset funds attracted $117.8 million over the same period, the smallest weekly inflow in the recent positive streak. Combined assets under management remained near $155 billion. CoinShares data show products lost $619 million from Monday through Thursday before a $737 million single-day inflow on Friday reversed the trend; the firm noted the Friday total ranks among the largest single-day inflows of 2026.

Bitcoin funds took in $192.1 million for the week, bringing year-to-date inflows to about $4.2 billion. Short-bitcoin products added $6 million. Only four cryptocurrencies recorded positive flows last week, down from nine the prior week.

Regional flows shifted away from the United States. U.S. investors accounted for $47.5 million of inflows after contributing roughly $1.1 billion the previous week. Germany led regional inflows with $43.8 million and Canada added $16 million.

Separate U.S. spot ETF data for May 4 showed continued asset-level inflows. SoSoValue reported U.S. Bitcoin spot ETFs took in $532 million on that day, marking a third consecutive day of inflows, while ether ETFs added $61.3 million.

FundStrat’s Tom Lee described the developments as the start of a ‘Crypto Spring,’ citing progress on the CLARITY Act and what he identified as demand drivers for Ethereum from tokenization and artificial intelligence.

Social analytics firm Cookie DAO flagged Bitcoin and ether as the week’s largest mindshare gainers and pointed to a market response after JPMorgan Chase began accepting both assets as collateral for some institutional loans, including home mortgages. Cookie DAO posted: ‘We\’re so back! BTC and ETH are the biggest mindshare gainers on CT this week.’

Market participants noted the coming week will indicate whether the end-of-week rebound repeats. Analysts say repeated large Friday inflows would strengthen the view that institutional buyers are contributing to recent demand for crypto products.