Crypto ETPs See $6M Inflows After $1B Outflows, AUM Rises 1.4%

Cryptocurrency exchange-traded products (ETPs) experienced a modest recovery last week, with inflows of $6 million, following significant outflows of over $1 billion in the preceding two weeks. This influx reflects a mixed sentiment among investors, as reported by CoinShares on April 22. The week started with minor inflows, but stronger-than-expected US retail sales figures mid-week triggered outflows of $146 million, according to CoinShares’ head of research James Butterfill.

Total assets under management (AUM) in crypto ETPs increased by 1.4%, rising from $129 billion as of April 11 to $131 billion on April 18. Despite the minor inflows, all US crypto ETP issuers are currently in the red for the month of April. European-based 21Shares was the only issuer that maintained inflows of $28 million in April.

BlackRock’s iShares exchange-traded funds saw the largest inflows last week, totaling $182 million. In contrast, major issuers like fidelity experienced outflows of $123 million from their crypto ETPs. Bitwise, one of the few US issuers, saw inflows of $24 million in its crypto ETPs, while the European issuer 21Shares saw larger inflows of $37 million.

Year-to-date, BlackRock’s iShares ETFs have seen more than $3 billion in inflows. Most issuers are in the red, except for Proshares with $340 million in inflows and Cathie Wood’s ARK with $19 million year-to-date. XRP stood out with significant inflows of $37.7 million, making it the biggest gainer among other crypto ETPs. Ether (ETH) saw the largest ETP outflows among other cryptocurrencies last week, totaling $26.7 million. Bitcoin experienced minor outflows of $6 million, extending April outflows to $894 million. Despite this, Bitcoin still has the largest inflows year-to-date, totaling $541 million, followed by Ether and XRP with $215 million and $214 million, respectively.

In summary, the crypto ETP market showed signs of recovery with modest inflows, but investor sentiment remains mixed. The performance of different issuers and assets varied, with some seeing significant inflows while others experienced outflows. The overall trend indicates a cautious approach by investors, with a focus on major cryptocurrencies like Bitcoin and Ether, as well as emerging assets like XRP.