According to a new report from CoinShares, crypto ETPs saw a big surge last week, with global inflows reaching $3.4 billion between April 21 and 25. This is the third-largest weekly inflow ever for cryptocurrency exchange-traded products, reflecting a sharp rebound in investor sentiment after a volatile start to 2025.
The $3.4 billion figure is just 13% lower than the all-time record of $3.85 billion set in early December 2024, reflecting renewed interest in crypto investment vehicles amid changing global economic conditions.
Bitcoin ETPs Lead the Way
Bitcoin was the main driver behind the surge in crypto ETP inflows last week. Investors pumped $3.18 billion into bitcoin-related products, accounting for nearly 94% of total weekly inflows. This massive investment push came after Bitcoin’s strong performance, as the leading cryptocurrency once again crossed the $90,000 mark – a price not seen consistently since early March, based on CoinGecko data.
As a result, assets under management (AUM) of Bitcoin ETPs reached $132 billion, while total AUM for all crypto ETPs reached an impressive $151.6 billion. Year-to-date, Bitcoin ETPs have attracted inflows of $3.7 billion, effectively balancing out previous outflows earlier this year.
Altcoin ETPs Show Mixed Sentiment
While Bitcoin dominated, other crypto ETPs also showed notable activity. Ethereum (ETH) broke an eight-week streak of outflows by pulling in $183 million last week. This shift signals growing optimism about the second-largest cryptocurrency by market capitalization.
Other altcoins also saw positive momentum. XRP-based ETPs recorded inflows of $31.6 million, and needle products attracted $20.7 million. However, not all altcoins benefited from the bullish trend – Solana (SOL) ETP recorded net outflows of $5.7 million, being the only major product to have a negative performance during the week.
Issuer Activity: BlackRock, ARK and Fidelity Leading
Flows into crypto ETPs were well distributed among major issuers. BlackRock’s iShares ETF attracted the most inflows with $1.5 billion, while ARK Invest and Fidelity followed with $621 million and $574 million, respectively. This spread highlights the broad-based confidence in crypto ETPs in both the US and European markets.
Despite the strong week, not every issuer was able to fully offset previous declines. Grayscale reported month-to-date outflows of $84 million since April 1, while ProShares and CoinShares recorded outflows of $18 million and $7 million, respectively.
Why Crypto ETPs are Seeing Renewed Interest
Several macroeconomic factors have fueled the latest surge in crypto ETPs. According to James Butterfill, head of research at CoinShares, concerns about the impact of new tariffs on corporate earnings and a weaker US dollar have pushed investors towards alternative assets. In particular, crypto ETPs are being seen as a hedge against traditional market risks.
Based on TradingView data, after hitting a high of nearly $3,500 on April 22, gold prices fell to around $3,275 by April 23. This drop in gold has prompted more investors to seek refuge in digital assets, further boosting crypto ETP inflows.
Crypto ETPs Booming
The latest data clearly shows that crypto ETPs are coming back strong after a shaky start to 2025. With Bitcoin price gains driving bullish sentiment and macroeconomic uncertainty favoring alternative investments, crypto ETPs appear poised for continued growth.
As the digital assets landscape continues to evolve, investors are increasingly turning to crypto ETPs as a more accessible and regulated way to gain exposure to cryptocurrencies. If current trends continue, the coming months could see even stronger inflows, firmly establishing crypto ETPs as a cornerstone of the modern investment portfolio.
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