Crypto ETPs Attract $17.8 Billion in 2025 H1 Despite 2.7% Decline

Investor interest in cryptocurrency remains robust in 2025, with digital asset investment products experiencing sustained capital inflows, although the total fell slightly short of the previous year's levels. Data indicates that demand for crypto ETPs remains strong across key markets, reflecting a shift in sentiment towards viewing cryptocurrencies as part of longer-term investment strategies rather than short-term speculation.

Crypto ETPs attracted a total of $17.8 billion in the first half of the year, closely matching the $18.3 billion seen in the same period of 2024. This positions the crypto ETP market just 2.7% below last year’s mid-year mark, indicating a robust continuation of interest despite shifting market conditions. Investment into digital asset products has persisted for eleven consecutive weeks, with inflows totaling $2.7 billion in the most recent week, bringing the cumulative figure over that period to $16.9 billion. This accounts for 95% of all year-to-date inflows by the end of June.

The steady stream of inflows into crypto ETPs points to rising confidence, especially from institutional investors. Cryptocurrency investments are flowing across multiple regions, with the US leading with $2.65 billion invested in crypto ETPs in 2025 H1. Switzerland and Canada follow with $23 million and $19.8 million inflows, respectively. However, Canada saw a $13.6 million net outflow, while Hong Kong and Brazil experienced withdrawals of $2.3 million and $2.4 million. Notably, Hong Kong investors withdrew a significant $132 million in June alone, contrasting global inflow trends.

In the competitive space of crypto investment product issuers, BlackRock has emerged as the dominant player. The asset management giant drew over $17 billion into its crypto ETP offerings in the first half of 2025, representing an overwhelming 96% of total global investment into such products for the period. Other issuers also captured investor interest, albeit on a smaller scale. ProShares had $526 million in inflows, Fidelity $246 million, while Grayscale saw $1.7 billion in outflows. These flows reflect shifting institutional preference, with investors appearing to favor providers perceived as more stable or better aligned with current market infrastructure.

Bitcoin retained its position as the principal asset of interest, accounting for 83% of weekly inflows. During the past week alone, it attracted $2.2 billion, reinforcing its dominance within crypto portfolios. The trend of capital exiting short-Bitcoin products also continued, with these products seeing $2.9 million in outflows last week, pushing total outflows for the year to $12 million. Ethereum also drew solid investment, with $429 million added last week. For the year to date, Ethereum ETPs have seen inflows of $2.9 billion, demonstrating sustained confidence in the asset, even as it trails Bitcoin in volume. Other assets such as Solana have attracted comparatively limited capital, with Solana investment products bringing in only $91 million so far in 2025.

According to the assessment, the surge in demand for crypto ETPs is being driven by multiple factors. Heightened geopolitical uncertainty and unclear direction in global monetary policy are prompting investors to seek alternative asset classes, with digital currencies becoming a favored option among institutional players. Interest in crypto ETPs remains strong, even as the overall market capitalization has seen a slight decline of over 2%. Bitcoin maintains a 62% share, followed by Ethereum at 8% at the time of writing.