Digital asset investment products recorded $224 million in inflows last week, with XRP attracting the majority of the new capital before macroeconomic headwinds reversed the momentum at the end of the period.
The recovery was unevenly distributed across regions and assets. Switzerland had the largest share of inflows, while Ethereum (ETH) continued to lose capital as the sentiment around regulation and the Clarity Act kept investors cautious.
Switzerland leads, the US lags behind
In a rare shift, European investors were the driving force behind this week's crypto inflows. According to CoinShares data, Switzerland topped the list with $157.5 million in inflows. Germany and Canada followed with $27.7 million and $11.2 million.
The United States, typically the largest source of digital asset fund activity, ranked third this week with only $27.5 million.
This is clearly a different situation than in previous weeks, where products from the US dominated both inflows and outflows.
The geographical differences indicate that European investors are positioned differently than American ones, possibly due to differing views on macroeconomic policy and regulation.
XRP rises, Bitcoin mixed, Ethereum lags behind
At the asset level, XRP led the way with $119.6 million in weekly inflows, the strongest performance since mid-December 2025.
The year-to-date inflows now stand at $159 million, which is about 7% of the total assets under management.
The coin consistently attracts capital, even during broader market declines. This pattern has continued since spot XRP ETFs started in the US at the end of 2025.
Bitcoin recorded $107.3 million in inflows, a modest improvement after a tough start in April. Nevertheless, the net outflow total this month stands at $145 million.
Sentiment remains mixed. Short-bitcoin products attracted $16 million last week, the highest level since mid-November 2025. This shows that bearish positions are increasing while buyers remain cautious.
Solana also received $34.9 million in inflows, continuing the steady upward trend, now accounting for 10% of the total AuM this year.
Ethereum remained the weak link and lost $52.8 million. The ongoing blockade in the Senate regarding the Digital Asset Market Clarity Act continues to weigh on ETH-related products.
The law, which was passed in the House in mid-2025, is stalled due to disagreements between banks and the crypto industry over regulations regarding stablecoin interest.
Ethereum is the most sensitive to the outcome of this law, as it is central to discussions about the classification of assets.
Macro pressure is slowing early momentum
The inflows this week did not hold up until Friday. Stronger than expected US retail sales, along with increasingly hawkish expectations about the Fed's policy, caused a reversal towards the end of the week.
Small outflows during the last sessions negated some of the gains.
Mixed geopolitical signals increased uncertainty. With high oil prices and less hope for interest rate cuts, risk appetite for crypto products remains vulnerable.
Whether XRP can maintain its inflow momentum under stricter macro conditions and stagnant regulation depends on the next economic data and any news about the Clarity Act in the Senate.