Cryptocurrency exchange-traded products (ETPs) saw renewed outflows last week, with $240 million in investor capital pulled, according to an April 7 report from digital asset manager CoinShares.
The outflows reversed two consecutive weeks of inflows that totaled $870 million, leaving total digital asset ETP holdings at about $133 billion, CoinShares reported.
The new outflows likely reflect investor caution in response to global trade tariffs imposed by the United States and concerns over their potential threat to global economic growth, CoinShares head of research James Butterfill said.
Weekly crypto ETP flows since late 2024. Source: CoinShares
Bitcoin ETPs flip monthly total negative
Bitcoin (BTC) ETPs led the downturn, with $207 million in weekly outflows. As a result, monthly flows turned negative for the first time this year, with $138 million in net outflows in the past 30 days.
Despite monthly outflows turning red, Bitcoin ETPs still maintain a significant amount of inflows year-to-date, totaling $1.3 billion, according to CoinShares data.
Flows by asset (in millions of US dollars). Source: CoinShares
Ether (ETH)-linked ETPs also saw $38 million in weekly outflows but continued to hold $279 million in YTD inflows.
Multi-asset ETPs and short Bitcoin ETPs saw $144 million and $26 billion in YTD outflows, respectively, despite minor inflows last week.
Grayscale leads ETP outflows
Cryptocurrency ETPs by major crypto investment firm Grayscale Investments led the losses among issuers last week, with $95 million withdrawn from its products.
Grayscale’s year-to-date outflows now stand at $1.4 billion, the highest among all ETP providers tracked, according to CoinShares data.
Related: Grayscale launches two new Bitcoin outcome-oriented products
Flows by issuer (in millions of US dollars). Source: CoinShares
Meanwhile, iShares ETFs by BlackRock still maintained $3.2 billion in YTD inflows after seeing $56 million in outflows last week.
Crypto ETPs by ProShares and ARK Invest are the only two other major issuers that still have inflows YTD, amounting to $398 million and $146 million, respectively.
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