Crypto exchange-traded products (ETPs) experienced a surge in inflows last week, reaching $1.1 billion, fueled by strong demand for Bitcoin and US spot ETFs. This positive trend was supported by easing US inflation data and geopolitical developments, particularly a tentative ceasefire in Iran. Bitcoin ETPs led the charge, with the US accounting for the majority of inflows, while Ether remained in a net outflow position year-to-date.
Crypto ETPs recorded $1.1 billion in inflows last week, led by Bitcoin and US spot ETFs, as easing US inflation data and geopolitical tensions supported demand.CoinShares’ head of research, James Butterfill, attributed the spike in inflows to a rebound in investor risk appetite following tentative ceasefire developments in Iran, alongside support from softer-than-expected US inflation and spending data.)
ETPs saw a strong rebound in sentiment with around $196.5 million in inflows, the first inflows after three consecutive weeks of outflows. Despite the gains, Ether remains one of the only assets in a net outflow position year-to-date, at $130 million. In contrast, Bitcoin sits on the largest inflows this year so far at $1.9 billion and accounts for around 83% of the $2.3 billion in total crypto ETP inflows year-to-date.
Although Bitcoin ETPs posted significant inflows, short-Bitcoin investors were also active last week, with weekly inflows totaling $20 million, their largest weekly inflows since November 2024, Butterfill noted.
Regionally, positive sentiment was almost entirely concentrated in the US, which saw inflows of $1 billion, accounting for 95% of net weekly inflows. The majority of Bitcoin ETP inflows were driven by US spot BTC exchange-traded funds, which posted $786.3 million in inflows last week, Germany recorded inflows of $34.6 million, while Canada and Switzerland saw more modest inflows of $7.8 million and $6.9 million, respectively.
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