The encouraging performance of cryptocurrency exchange-traded products (ETPs) continued last week, with particular influence from the US President Donald Trump’s executive order, which proposed a strategic cryptocurrency reserve. This landmark action is believed to have prompted a surge of $1.9 billion of new investment into various crypto ETPs in the last trading week. According to a report by crypto investment firm CoinShares, this marks the third week running for inflows into global crypto ETPs, boosting the year-to-date (YTD) total to an impressive $4.7 billion.
Despite these substantial inflows, there was a slight decrease from the previous week’s figure of $2.2 billion. Bitcoin-based ETPs, however, continue to account for the lion’s share of these investments. The past week saw $1.6 billion flowing into Bitcoin ETPs, making the YTD inflows for Bitcoin check in at $4.4 billion. That equates to an overwhelming 92% share of all inflows for crypto ETPs YTD.
Part of Bitcoin’s ETP popularity may be due to Bitcoin itself hitting a new all-time-high above $109,000 on January 20. Notably, short Bitcoin ETPs also gained substantial traction last week, bringing in $5.1 million of fresh investments.
Meanwhile, the total assets under management (AUM) for all crypto ETPs have hit a new peak at $171 billion. Of that amount, Bitcoin ETPs represent a commanding lead with 82% of the total. In the face of this growth, Ether-based ETPs have remained robust, with an inflow of $205 million last week. Popular altcoins, such as Solana, Chainlink, and Polkadot, have also reported new inflows.
Regarding prominent crypto ETP issuers, BlackRock continues its reign as the industry leader, with weekly inflows peaking at $1.5 billion. Its YTD inflows stand at a staggering $2.9 billion, boasting a total AUM of $64 billion. Other prominent issuers, such as Fidelity and ARK, experienced inflows of $202 million and $173 million, respectively. In contrast, Grayscale saw substantial ETP outflows, totalling $124 million in the last week alone.