Crypto ETPs See $644M Inflows, Ending Five-Week Outflow Streak

Crypto-related exchange-traded products (ETPs) have experienced a significant turnaround, with strong weekly inflows totaling $644 million. This marks the end of a five-week outflow streak, as reported by CoinShares’ latest findings. The reversal in trend indicates a notable improvement in investor sentiment across the digital asset sector, according to James Butterfill, Head of Research at CoinShares.

Crypto ETPs saw inflows every day last week, following a 17-day streak of outflows. The renewed inflows have pushed total assets under management (AUM) up by 6.3% from the March 10 low, reaching $134.5 billion. Bitcoin played a pivotal role in this rebound, attracting $724 million in fresh capital. This influx ended a $5.4 billion outflow streak over the previous five weeks. Much of the activity came from US-listed spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the charge with $464 million in inflows. Fidelity’s FBTC followed with $136 million, while ARK 21Shares brought in $75 million.

Short-Bitcoin products saw outflows of $7.1 million, reinforcing the bullish mood. In total, US-based products accounted for $632 million in inflows. This renewed optimism extended beyond American markets as Switzerland added $15.9 million, Germany saw $13.9 million, and China Hong Kong posted $1.2 million.

Outside of Bitcoin, XRP led altcoin inflows with $6.7 million. The token benefited from renewed optimism following the US Securities and Exchange Commission (SEC) decision to drop its long-standing lawsuit against Ripple Labs. Solana nearly matched XRP’s inflows with $6.4 million despite the waning interest in memecoin activity on the network. Polygon and Chainlink also recorded gains, though more modest, at $400,000 million and $200,000, respectively.

In contrast, Ethereum saw the sharpest decline, with $86 million in outflows. Other altcoins facing redemptions included Sui and Polkadot, each worth $1.3 million, Tron, with $950,000, and Algorand, with inflows of $820,000.