Global crypto exchange-traded products drew $224 million in inflows last week after a $414 million outflow the week before, according to CoinShares.
The headline number looks like a recovery but a deeper look shows that the rebound is far narrower than it appears.
Switzerland alone accounted for roughly $157 million of the $224 million total, meaning 70% of global inflows came from a single country. Germany and the United States each contributed about $28 million. Canada added a much smaller $11 million.
The asset breakdown is similarly concentrated. XRP led all inflows at approximately $120 million, more than half the global total and its largest weekly intake since mid-December 2025.
