Cryptocurrency exchange-traded products (ETPs) have experienced a significant revival. CoinShares reported $3.4B in inflows for the week of April 21 to 25. This is the third-largest influx on record, only 13% off the all-time high.
Bitcoin led the drive. Investors put $3.18B into BTC ETPs as the price rose above $90,000. Bitcoin's year-to-date inflows have reached $3.7B. The total value of crypto ETP assets under management has reached $151.6B. Most altcoins also experienced positive flows. Ethereum snapped its eight-week outflow skid with $183M in new inflows. Sui and XRP attracted $20.7M and $31.6M, respectively. Solana was the only outlier, with $5.7M in outflows.
Major issuers profited from the rise. BlackRock's iShares ETFs saw the most inflows, totaling $1.5B. ARK and Fidelity followed soon.
CoinShares analyst James Butterfill links the spike to economic factors. Concerns over tariffs and a weaker currency prompted investors to seek safe-haven investments. Crypto inflows coincided with a significant decline in gold prices.
