Investment products with digital assets received 224 million USD in inflows last week. XRP took the largest share of the new capital, but poor macroeconomic news reversed the trend towards the end of the period.
The recovery was uneven between regions and assets. Switzerland accounted for the largest portion of inflows, while Ethereum (ETH) continued to lose capital as investors were cautious due to regulatory uncertainty surrounding the Clarity Act.
Switzerland leads, USA loses ground
This week, inflows mainly came from European investors. Switzerland topped the list with 157.5 million USD in inflows according to CoinShares. Germany and Canada followed with 27.7 million USD and 11.2 million USD respectively.
The U.S., which is usually the largest source of fund activity for digital assets, ranked third with only 27.5 million USD.
This is a significant change compared to previous weeks when products from the U.S. topped both inflows and outflows.
This difference shows that European investors are choosing a different approach than American investors. This may be due to different opinions on macroeconomics and regulation.
XRP rises, bitcoin mixed, ethereum lags behind
Among assets, XRP led with 119.6 million USD in inflows during the week. It is the best week for XRP since mid-December 2025.
Total inflows for the year are now 159 million USD, which is about 7% of managed capital.
The token has continued to attract capital even during periods when the rest of the market has seen declines. This trend has continued since spot XRP ETFs came to the U.S. in late 2025.
Bitcoin had inflows of 107.3 million USD, a slight improvement after a tough start to April. However, the month's total outflows are still 145 million USD.
The sentiment remains uncertain. Short bitcoin products had inflows of 16 million USD last week. This is the highest level since mid-November 2025, indicating that more are positioning for a downturn, although some are buying cautiously.
Solana also received 34.9 million USD and continues its steady inflow trend, now constituting 10% of its total managed capital for the year.
Ethereum remained the weakest and lost 52.8 million USD. The dispute over the Clarity Act in the Senate continues to affect ETH-related products.
The law, which passed in the House of Representatives in mid-2025, has stalled due to disagreement between banks and the crypto industry over regulations regarding stablecoins and interest.
Ethereum is most affected by the outcome of the law as it is important for the discussion on how assets should be classified.
Macroeconomic pressure is slowing early momentum
This week's inflows did not hold until Friday. Stronger figures for U.S. retail and tougher expectations for the Federal Reserve caused prices to turn downward towards the end of the week.
Small outflows at the end of the week reduced some of the gains.
Unclear geopolitical signals increased uncertainty. With high oil prices and weaker confidence in interest rate cuts, the willingness to take risks in crypto products remains sensitive.
Whether XRP can continue to rise depends on the next economic statistics and if anything happens with the Clarity Act in the Senate.