Digital asset investment products narrowly avoided a disastrous week after a stunning Friday recovery erased four consecutive days of outflows. According to a CoinShares report, the week ending May 1 saw total net inflows of $117.8 million, making it the fifth straight week of positive flows, albeit the smallest in that streak. The final figure masked turbulence underneath: from Monday through Thursday, $619 million had exited the market. Then came Friday, when a massive $737 million in a single day poured back in, flipping the weekly tally positive.
“This is one of the largest daily inflows recorded in 2026, likely reflecting a sharp improvement in risk appetite,” CoinShares noted. Total assets under management remained steady at $155 billion.
Bitcoin products dominated, attracting over $192 million for the week, pushing year-to-date inflows to $4.2 billion. That figure, however, remains well below the recent weekly average of nearly $1 billion. A subset of bearish traders added $6 million to short Bitcoin products. Multi-asset investment vehicles drew $3.6 million, while XRP-focused funds recorded $3 million in inflows. In contrast, Ethereum products bled $81.6 million, snapping a three-week streak that had accumulated over $190 million. Solana also suffered outflows exceeding $11 million. CoinShares commented, “The narrowing in participation from nine assets to four this week is the clearest signal that sentiment softened through the working week before recovering on Friday.”
Regionally, the United States contributed just $47.5 million—a dramatic drop from the $1.1 billion seen the week prior. Germany gathered $43.8 million and Canada $16 million, showing more consistent demand, while Switzerland and Australia added $5.2 million and $4 million respectively.
Meanwhile, Bitcoin price action reinforced the bullish tone. After breaking above $80,000 for the first time since January 31, BTC caught fresh momentum. Singapore-based QCP Capital observed that Bitcoin’s correlation with US equities is climbing back to levels seen in 2023, signaling a renewed link to broader risk assets. Notably, the rally occurred even as Strategy paused its purchases, suggesting “the market may be drawing strength from a wider base of support beyond that single narrative.” QCP stressed that holding the $82,000–$83,000 range is crucial for continuation. With implied volatility near yearly lows and the VIX around 17, markets appear to be mostly discounting geopolitical risks, though the situation remains “fluid” ahead of labor data and earnings from Strategy, Coinbase, and Block.
Separate data from Farside Investors showed that the positive momentum carried into this week. On Monday, May 4, US spot Bitcoin ETFs pulled in $532.3 million, extending a bullish streak after a $629.8 million inflow on May 1. BlackRock’s IBIT led with $335.5 million, followed by Fidelity’s FBTC at $184.6 million and Bitwise’s BITB at $12.2 million. Ethereum ETFs, however, lagged with only $61.3 million in total net inflows that day, with the bulk ($54.8 million) going into BlackRock’s ETHA. XRP ETFs, though smaller, have now accumulated $1.16 billion in assets under management, holding 831.72 million XRP (0.83% of total supply) across seven funds. Solana ETFs rebounded modestly with $3.3 million after flat days.
Crypto analyst Michaël van de Poppe struck an optimistic note: “Bitcoin looks ready for more upside. It broke above $79K. The trend clearly is upwards.” His chart identified resistance between $86,000 and $88,000 and a potential push toward $91,000–$93,000, with primary support near the low $70,000s. He also noted growing evidence that gold capital is rotating back into Bitcoin.
