Weekly Channel Summary
The Cryptocurrency channel closed the week with $119.59B in total AUM spread across 91 ETFs from 26 issuers. Weekly net flows were negative at $-472M, though the channel remains positive on a longer horizon with $388M gathered year-to-date and $2,006M over the trailing one-year period. The divergence between the weak 5-day print and the more constructive YTD and 1-year figures points to a short-term outflow episode within an otherwise resilient annual trend.
This Week’s Performance Leaders and Laggards
Altcoin funds led all categories on the week with an 11.54% WTD gain, extending an exceptional run that includes a 96.39% three-month return and a staggering 1469.21% one-year gain, though YTD performance of 46.63% shows some of that momentum has moderated more recently. Multicoin (5.31%) and Bitcoin (5.12%) posted solid but more modest weekly gains, while Ethereum lagged the group at 3.93% WTD despite a strong 37.97% one-month return. Bitcoin and Ethereum both remain in negative territory YTD, at -7.42% and -11.10% respectively, underscoring the outsized contribution of altcoin-linked products to the channel’s recent strength. Grayscale Zcash Trust (ZCSH) was the standout fund of the week, gaining 24.70%, well ahead of a cluster of Hyperliquid-linked ETFs that each returned roughly 14-15%. On the downside, Bitwise Trendwise Ether and Treasuries Rotation Strategy ETF (AETH) was the weakest performer, falling 5.25% for the week.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Altcoin | 11.54% | 71.85% | 96.39% | 116.45% | 46.63% | 1469.21% |
| Multicoin | 5.31% | 28.94% | 32.68% | 14.16% | -9.10% | -36.29% |
| Bitcoin | 5.12% | 25.69% | 29.07% | 14.17% | -7.42% | -31.16% |
| Ethereum | 3.93% | 37.97% | 54.81% | 20.82% | -11.10% | -42.55% |
Top & Bottom 5 ETFs by Weekly Performance
Beyond ZCSH’s leading gain, Bitwise Hyperliquid ETF (BHYP), 21Shares Hyperliquid Staking ETF (THYP), and Grayscale Hyperliquid Staking ETF (HYPG) all posted gains near 14.5%, alongside 21Shares Canton Network ETF (TCAN) at 13.46%. These results reinforce the altcoin category’s dominance atop the weekly leaderboard. On the bottom end, Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) declined 4.63% and 7RCC Spot Bitcoin and Carbon Credit Futures ETF (BTCK) fell 2.63%, both weighed down by treasuries-rotation or hybrid strategy exposures that underperformed spot-driven gains elsewhere in the channel.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ZCSH | Grayscale Zcash Trust | 24.70% |
| BHYP | Bitwise Hyperliquid ETF Common Shares of Beneficial Interest | 14.62% |
| THYP | 21shares Hyperliquid Staking ETF | 14.50% |
| HYPG | Grayscale Hyperliquid Staking ETF | 14.47% |
| TCAN | 21Shares Canton Network ETF | 13.46% |
| Bottom Performers | ||
| AETH | Bitwise Trendwise Ether and Treasuries Rotation Strategy ETF | -5.25% |
| NGHT | Nicholas Bitcoin and Treasuries AfterDark ETF | -4.63% |
| BTCK | 7RCC Spot Bitcoin and Carbon Credit Futures ETF | -2.63% |
| ORO | Arrow Valtoro ETF | -0.81% |
| BITC | Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF | -0.06% |
Analyzing the Weekly Flows
The channel shed a net $472M over the week, driven almost entirely by Bitcoin funds, which saw $486M in outflows despite carrying $97.94B in category AUM. Ethereum products also bled $68M for the week, a reversal from the category’s strong $1,619M 30-day and $1,912M 90-day inflow trends. Altcoin funds were the lone bright spot among categories, gathering $82M for the week and extending a robust run that includes $1,928M YTD and $4,653M over the trailing year. Multicoin flows were essentially flat at $0M for the week, though the category has added $134M YTD.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Altcoin | 43 | $4.93B | $82M | $710M | $925M | $1,928M | $4,653M |
| Multicoin | 13 | $1.23B | $0M | $99M | $179M | $134M | $28M |
| Ethereum | 13 | $15.49B | -$68M | $1,619M | $1,912M | $717M | -$515M |
| Bitcoin | 22 | $97.94B | -$486M | $2,521M | $1,108M | -$2,390M | -$2,160M |
Top & Bottom 5 ETFs by 5-Day Flow
Grayscale Zcash Trust (ZCSH) led all funds in weekly inflows with $62M, followed by iShares Staked Ethereum Trust ETF (ETHB) at $25M and Grayscale Ethereum Staking Mini ETF (ETH) at $21M. On the outflow side, Fidelity Wise Origin Bitcoin Fund (FBTC) posted the largest redemption of the week at $231M, followed by ARK 21Shares Bitcoin ETF (ARKB) at $144M. These two funds accounted for the bulk of the Bitcoin category’s weekly decline, though Grayscale Bitcoin Trust ETF (GBTC) and ProShares Bitcoin ETF (BITO) also saw notable redemptions of $62M and $47M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| ZCSH | Grayscale Zcash Trust | $62M |
| ETHB | iShares Staked Ethereum Trust ETF | $25M |
| ETH | Grayscale Ethereum Staking Mini ETF | $21M |
| MSBT | Morgan Stanley Bitcoin Trust ETF | $17M |
| XRP | Bitwise XRP ETF | $11M |
| Outflows | ||
| FBTC | Fidelity Wise Origin Bitcoin Fund | -$231M |
| ARKB | ARK 21Shares Bitcoin ETF | -$144M |
| GBTC | Grayscale Bitcoin Trust ETF | -$62M |
| BITO | ProShares Bitcoin ETF | -$47M |
| FETH | Fidelity Ethereum Fund ETF | -$41M |
Issuer League Table Update
iShares remains the dominant issuer in the channel with $69.69B in AUM and a 58.27% market share across just 3 funds, followed by Grayscale with $20.01B and a 16.74% share spread across 12 funds. Morgan Stanley led all issuers in weekly inflows at $18M, with Franklin adding a further $7M. Fidelity recorded the largest weekly outflow among issuers at $271M, driven primarily by redemptions from its Bitcoin and Ethereum funds, while 21Shares also saw a notable $146M outflow for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 3 | $69.69B | 58.27% |
| Grayscale | 12 | $20.01B | 16.74% |
| Fidelity | 3 | $14.68B | 12.28% |
| Bitwise | 11 | $5.59B | 4.68% |
| 21Shares | 12 | $2.65B | 2.21% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Morgan Stanley | $18M |
| Franklin | $7M |
| T. Rowe Price | $1M |
| Outflows | |
| Fidelity | -$271M |
| 21Shares | -$146M |
| ProShares | -$48M |
For a deeper dive into these trends, access our FREE, in-depth Cryptocurrency ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
