Cryptocurrency Exchange-Traded Products See Significant Inflows
Cryptocurrency exchange-traded products (ETPs) saw $3.4 billion in inflows last week, according to a report from CoinShares on April 28. This was the third-largest weekly inflow ever recorded and the biggest since December 2024. The inflows were just 13% lower than the record of $3.85 billion reached in early December 2024.
The strong inflows happened as investors faced concerns over new U.S. tariffs that could hurt corporate earnings. At the same time, the U.S. dollar weakened, making investors more interested in moving their money into alternative assets like cryptocurrencies. Gold, which had touched a record high of nearly $3,500 on April 22, also saw a sharp drop to $3,275 by April 23. The fall in gold prices likely made cryptocurrencies a more attractive option for investors looking for safety.
Bitcoin Sees Most Inflows, While Solana Faces Outflows
Bitcoin was the main reason for the strong inflows. Bitcoin ETPs brought in $3.18 billion last week. This reversed all the outflows that had happened earlier in April. So far this year, Bitcoin investment products have seen $3.7 billion in inflows. Bitcoin’s price stayed above $90,000 last week, which helped boost investor confidence. Assets under management (AUM) in Bitcoin ETPs reached $132 billion, and total crypto ETP AUM climbed to $151.6 billion.
Ethereum also showed strength, gaining $183 million in inflows after eight straight weeks of outflows. However, Solana was the only major altcoin to see money leave, with $5.7 million in outflows. On the other hand, XRP brought in $31.6 million, and Sui gained $20.7 million from investors.
BlackRock’s iShares Leads Inflows in Cryptocurrency ETPs
BlackRock’s iShares ETFs led the inflows among providers, collecting $1.51 billion last week. ARK 21Shares followed with $621 million, and Fidelity Wise Origin Bitcoin Fund added $574 million. However, some older products still faced problems. Grayscale Investments saw $84 million leave its funds, while ProShares and CoinShares also recorded small outflows for the month.
The United States was the biggest driver of the inflow in Cryptocurrency ETPs, with American investors adding $3.3 billion. Germany and Switzerland also showed positive activity, adding $51.5 million and $41.4 million, respectively. Other regions like Australia and Hong Kong had smaller movements, with Hong Kong continuing to see outflows over the year.