- Bitcoin ETPs captured $3.18 billion in inflows, wiping out earlier April outflows completely.
- XRP and SUI investment products gained strong momentum, attracting $31.6M and $20.7M in inflows.
- BlackRock’s iShares led issuers with $1.5 billion in inflows during the week of April 21–25.
The crypto market has once again proven its resilience, with ETPs recording one of their highest inflows on record, last week. Data from CoinShares shows that digital asset investment products saw a staggering $3.4 billion within the trading week between 21 and 25 April. This figure is the third-largest weekly inflow ever recorded and is just 13% below the all-time high from December of last year.
Bitcoin Takes the Lead as Prices Consolidate
Bitcoin was a standout performer among the rest, especially with the return of investor interest as it surged past the $90,000 mark. Bitcoin ETPs alone captured $3.18 billion of the total weekly inflows, wiping out all the outflows recorded earlier in April. Since the beginning of the year, inflows into Bitcoin investment products have totaled $3.7 billion. Bitcoin’s assets under management have also grown to $132 billion, underscoring its strong dominance in the crypto sector.
The market’s general AUM now stands at $151.6 billion as optimism appears to have returned across the market.
Ethereum and Other Altcoins Join the Rally
While Bitcoin led the inflows, Ethereum saw a return of investor interest. After eight consecutive weeks of outflows, Ethereum investment products attracted $183 million in fresh inflows, based on recent data.
This rebound signals a renewed sense of confidence in Ethereum’s future, echoing Bitcoin’s positive trend. Several altcoins also experienced gains during this period, with XRP drawing $31.6 million in inflows, followed by Sui (SUI), which attracted $20.7 million.
However, not all altcoins shared in the rally. Solana (SOL) bucked the trend with outflows of $5.7 million over the same period. Despite Solana’s recent growth in adoption, investors appeared to shift capital away from SOL-based products last week.
Major Issuers Benefit Across the Board
Investment activity surged across major ETP issuers during the latest market recovery. BlackRock’s iShares led the way, bringing in $1.5 billion. ARK Invest followed with $621 million, while Fidelity attracted $574 million in new investments.
Despite the overall positive trend, not every issuer’s balance sheet turned completely green. Considering the previous downturns, issuers like Grayscale, ProShares, and CoinShares saw continued month-to-date outflows, with $84 million for Grayscale, alongside $18 million and $7 million for ProShares and CoinShares. Possible reasons for this trend of inflows likely come from the weakened US dollar, which has prompted investors to seek out safe-haven assets.
Changes in gold prices may have influenced investor behavior. After hitting an all-time high of nearly $3,500 per ounce on April 22, gold prices dropped to around $3,275 the following day. This decline could have encouraged investors to shift their focus toward crypto assets instead.
As of press time, Bitcoin was trading around $94,469 after climbing by 8% over the last week. An interesting aspect of Solana’s outflows is that it came right after the $5.8 million hack that recently hit the Loopscale platform. Overall, the data above shows that the crypto space is still growing from a fringe asset class to a major part of any diversified portfolio.
