Cryptocurrencies Attract $3.7 Billion in ETP Inflows Amid Bitcoin Rally

Cryptocurrency exchange-traded products (ETPs) saw significant inflows during the last trading week, supported by Bitcoin’s surge past the $118,000 mark, according to new data.

Global crypto ETPs recorded $3.7 billion in net inflows for the week ending Friday, CoinShares reported on Monday. This inflow further increased year-to-date ETP inflows to a new high of $22.7 billion, an increase of approximately 20% from the previous week.

Concurrently, the total assets under management (AUM) in crypto funds crossed a significant threshold, reaching $211 billion for the first time.

Bitcoin Dominates ETP Flows

Bitcoin (BTC) exchange-traded products led the inflows, attracting $2.7 billion, which accounted for 73% of total crypto ETP inflows for the week. This represented a robust rebound from the previous week’s inflow of just $790 million.

Notably, daily inflows into Bitcoin ETFs surged sharply the following day after BTC itself set new all-time high prices above $112,000 last Wednesday, driving the ETP AUM value up to $179.5 billion.

Remarkably, this BTC ETP AUM now accounts for 54% of total gold ETP assets under management, a previously unseen proportion.

Ethereum Continues Steady Run

The longest streak in crypto ETP history continued, with Ether (ETH) products posting their 12th consecutive week of inflows, totaling $990 million according to CoinShares data. This marked their fourth-largest inflows on record.

While Bitcoin’s share fluctuations have increased its proportional AUM growth within its ETPs over recent weeks, the long-term trend shows a lower rate of AUM growth compared to Ethereum’s inflows relative to its own AUM.

In contrast, XRP (XRP) ETPs experienced the largest net outflows, totaling $104 million, despite strong inflows recorded by Solana (SOL) ETPs amounting to $92.6 million.

Broad-Based US Issuer Participation

The inflows were distributed across all US-based crypto ETP issuers. BlackRock’s iShares lineup attracted the largest share of new capital, securing $2.4 billion. Fidelity Investments and ARK Invest followed closely with $400 million and $339 million in inflows, respectively.

Elsewhere, most other prominent European issuers saw modest net outflows, although CoinShares reported only minor ($16 million) capital flight during the period.

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