Cryptocurrency ETPs Show Signs of Recovery Amid Mixed Investor Sentiment

According to Cointelegraph, cryptocurrency exchange-traded products (ETPs) experienced a slight recovery last week, with minor inflows following significant outflows exceeding $1 billion in the preceding two weeks. Crypto investment products recorded modest inflows of $6 million during the week of April 14–18, indicating mixed investor sentiment, as reported by CoinShares on April 22. The week began with minor inflows, but stronger-than-expected U.S. retail sales figures mid-week likely triggered outflows amounting to $146 million, according to James Butterfill, CoinShares’ head of research. Total assets under management (AUM) in crypto ETPs increased by 1.4%, rising from approximately $129 billion on April 11 to $131 billion by April 18. Despite the minor inflows, all U.S. crypto ETP issuers remain in the red for the month of April. BlackRock’s iShares exchange-traded funds experienced the largest inflows last week, totaling $182 million, while major issuers like Fidelity faced outflows of $123 million from their crypto ETPs. Bitwise was among the few U.S. issuers that saw inflows, totaling $24 million, whereas the European issuer 21Shares recorded larger inflows of $37 million. Notably, 21Shares was the only issuer to maintain $28 million of inflows in April. Year-to-date, BlackRock’s iShares ETFs have been robust, with over $3 billion in inflows. Most issuers remain in the red, except for Proshares, which has seen $340 million in inflows, and Cathie Wood’s ARK, with $19 million YTD. Asset-wise, Ether (ETH) experienced the largest ETP outflows among cryptocurrencies last week, totaling $26.7 million. Conversely, XRP (XRP) stood out with significant inflows of $37.7 million, marking it as the biggest gainer among crypto ETPs. Meanwhile, Bitcoin saw minor outflows of $6 million, extending April outflows to $894 million. Despite this, Bitcoin still holds $541 million in ETP inflows YTD, leading before Ether and XRP, which have $215 million and $214 million YTD, respectively.