Crypto ETPs saw substantial inflows of $3.4 billion in a week—marking the third-highest ever, driven mainly by renewed interest in Bitcoin as it surged past $90,000. All major issuers benefited, though some reported outflows. Meanwhile, Solana faced losses, while Ether rebounded with significant inflows, suggesting a fluctuating yet dynamic market.
According to CoinShares, cryptocurrency exchange-traded products (ETPs) experienced their third-largest inflows ever last week, totalling $3.4 billion during the trading period from April 21-25. This surge represents the highest inflow level since December 2024, as reported on April 28. Notably, this figure is only 13% shy of the record inflow of $3.85 billion recorded in early December 2024.
Bitcoin (BTC) was a significant driver behind this resurgence in crypto ETP interest, having crossed the $90,000 threshold for the first time since early March. Data from CoinGecko highlights that Bitcoin accounted for approximately $3.18 billion of the inflows into BTC ETPs, compensating for earlier outflows logged since the beginning of the month, which highlights renewed investor confidence. Year-to-date, Bitcoin ETP inflows now total $3.7 billion, with assets under management rising to $132 billion amid an overall ETP AUM of $151.6 billion.
On the flip side, Solana (SOL) was the only cryptocurrency to witness outflows last week. These investment products saw a decline of around $5.7 million. In stark contrast, Ether (ETH) broke its eight-week streak of outflows, netting $183 million in inflows during the same trading week. Other notable altcoins, like Sui (SUI) and XRP, also fared well, bringing in $20.7 million and $31.6 million, respectively.
The inflows favoured all major issuers in both the United States and Europe, with BlackRock’s iShares ETFs leading the charge with $1.5 billion in inflows, ARK and Fidelity closely following with $621 million and $574 million, respectively. However, it’s worth noting that some issuers such as Grayscale, ProShares, and CoinShares experienced outflows of $84 million, $18 million, and $7 million since the start of April, contributing to a somewhat mixed performance across the board.
CoinShares analysts suggest that the renewed interest in crypto ETPs could be tied to concerns regarding the impact of tariffs on corporate profits, alongside a weakening US dollar that has increased demand for perceived safe-haven assets like cryptocurrencies. Interestingly, the inflow surge coincided with a notable dip in gold prices, which fell from a recent high of $3,500 on April 22 to as low as $3,275 on April 23, according to TradingView.
