Cryptoasset ETPs just posted a fifth consecutive week of inflows, lifting five-week net flows above $4 billion and pushing assets under management to around $155 billion despite strong midweek outflows.
Summary
- CoinShares’ latest weekly report shows that global cryptoasset ETPs recorded $117.8 million in net inflows last week, marking a fifth consecutive positive week and pushing five-week cumulative inflows above $4 billion.
- Total assets under management now stand at around $155 billion, but flows were highly volatile: $619 million in net outflows from Monday to Thursday turned into a weekly inflow of $117.8 million thanks to a single increase of $737 million on Friday.
- Bitcoin products led with $192.1 million in inflows, largely driven by US spot ETFs, while Ethereum products posted $81.6 million in net outflows, underscoring a sharp midweek pullback in risk appetite before a late recovery.
CoinShares said digital asset ETPs raised $117.8 million last week, extending its inflow streak to five weeks and bringing cumulative inflows over that period to more than $4 billion, while total industry AUM rose to around $155 billion.
Capital inflows mask sharp intraweek reversal
However, below the headline, the flows were choppy. From Monday to Thursday, the products collectively recorded $619 million in net outflows, before an inflow of $737 million on Friday alone sent the weekly balance back into positive territory, a pattern CoinShares interpreted as a late-week rebound in risk appetite.
Regionally, US crypto ETP inflows slowed to around $47.5 million (a sharp slowdown from roughly $1.1 billion the previous week), while Germany and Canada posted steadier gains of $43.8 million and $16 million, respectively, helping keep the global tally in the green.
CoinShares noted that only four assets saw significant inflows last week, down from nine in previous reports, which it said reflected “a significant weakening of sentiment midweek” before buyers returned to close out the period.
Bitcoin ETFs dominate as Ethereum stumbles
By asset type, Bitcoin-linked products once again led the pack, attracting $192.1 million in net inflows over the week, with US Spot ETF accounting for approximately $162.8 million of that figure, according to flow trackers cited in the report.
These flows are added to the year so far Bitcoin ETP inflows already surpassing $4 billion by the end of April, with CoinShares previously highlighting demand for US spot ETFs as the main driver of the recent five-week streak of inflows.
Ethereum products moved in the opposite direction, suffering $81.6 million in net outflows as traders moved away from ETH exposure, a change from the previous weeks in April, when Ether ETP enjoyed three consecutive weeks of receipts exceeding $190 million.
CoinShares analysts suggested that the shrinking set of assets attracting fresh capital, combined with midweek outflows and Friday’s huge bounce, indicates a fragile but still positive backdrop, where institutional investors are selectively adding risk to Bitcoin while remaining cautious on the rest of the market.
