Cryptocurrency exchange-traded products (ETPs) attracted $3.4 billion in inflows during the week of April 21–25, marking their third-largest weekly gain on record, according to a new report by CoinShares.
This surge represents a significant rebound for crypto investment products and reflects a broader shift in market sentiment, spurred by macroeconomic factors and a Bitcoin rally.
The weekly inflows, while slightly below December 2024’s all-time high of $3.85 billion, highlight renewed investor appetite for crypto assets amid global economic uncertainty. CoinShares noted that the latest figure is just 13% off the historic peak seen from Dec. 2–6, 2024.
Bitcoin-based ETPs were the primary driver behind the inflow surge, pulling in $3.18 billion - almost 94% of the week's total. This influx followed Bitcoin’s return above the $90,000 level, a price last revisited briefly in early March, according to data from CoinGecko.
The strength of Bitcoin ETPs has pushed their assets under management (AUM) to $132 billion, with total crypto ETP AUM reaching $151.6 billion. Year-to-date (YTD), Bitcoin ETPs have accumulated $3.7 billion in new investment, fully offsetting earlier outflows seen in the volatile first quarter.
While bullish sentiment extended across most crypto investment products, Solana (SOL) was a notable outlier. Solana-based ETPs recorded $5.7 million in net outflows, contrasting with positive flows into other altcoins.
Ethereum (ETH) reversed an eight-week streak of outflows, bringing in $183 million over the same period. Other altcoin products also saw significant inflows, with XRP and Sui-based ETPs gaining $31.6 million and $20.7 million, respectively.
The surge in investment was broadly distributed among the leading ETP issuers. BlackRock’s iShares ETFs led the pack with $1.5 billion in inflows, followed by ARK Invest with $621 million and Fidelity with $574 million.
However, despite the strong weekly gains, not all issuers have fully reversed earlier losses. Grayscale reported $84 million in month-to-date (MTD) outflows, while ProShares and CoinShares itself posted $18 million and $7 million in respective outflows since April 1.
CoinShares head of research James Butterfill attributed the sharp inflows to a combination of macroeconomic pressures. Investor concerns over the impact of potential new tariffs on corporate earnings and a notable weakening of the U.S. dollar have boosted demand for alternative assets, including cryptocurrencies.
Additionally, the retreat in gold prices from a record high of nearly $3,500 on April 22 to around $3,275 by April 23 likely pushed more investors toward digital assets as a hedge against traditional market volatility.
The latest data suggests that crypto ETPs are regaining momentum, positioning digital assets as an increasingly attractive option amid shifting global economic dynamics.