Cryptocurrency exchange-traded products (ETPs) recorded their largest inflows ever, totaling $2.2 billion so far last week, according to investment firm CoinShares.
Euphoria over the inauguration of US President-elect Donald Trump has driven massive inflows into cryptocurrency ETPs, CoinShares research director James Butterfill said in his latest fund flow report dated January 20.
With Bitcoin (BTC) rising 15% in the last trading week, total assets managed by cryptocurrency ETPs surged to an all-time high of $171 billion.
Following the surge in inflows of cryptocurrency investment products last week, small inflows totaling $47 million followed in the second week of 2025.
Cryptocurrency ETP trading volume accounted for 34% of total BTC trading volume last week.
Butterfill said global trading volume for cryptocurrency ETPs remained strong at $21 billion last week, accounting for 34% of total Bitcoin trading volume on trusted exchanges.
Last week’s $2.2 billion inflows were primarily driven by Bitcoin ETPs, which recorded $1.9 billion in inflows, bringing YTD inflows to $2.7 billion.
Flows by Asset (Millions of USD) Source: CoinShares
“Unusually, despite the recent price rally, there has been some modest outflow from the $500,000 short position, while inflows typically occur after such positive price momentum,” Butterfill said.
Ether ETP is still the worst performer despite new inflows.
Ethereum (ETH)-based ETPs saw inflows of $246 million last week, correcting the significant outflows seen so far this year.
Despite this, Ether ETP continues to be the worst performer in terms of inflows this year, with YTD outflows amounting to $28 million.
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XRP (XRP) continued to gain momentum last week, with XRP-backed ETPs seeing inflows of $31 million. The report stated that since November 2024, XRP ETP inflows have surged to $484 million.
BlackRock’s iShares ETF continues to strengthen, while Grayscale continues to see outflows.
BlackRock’s iShares cryptocurrency exchange-traded fund (ETF) remained strong last week, recording inflows of $897 million.
Meanwhile, Grayscale’s cryptocurrency ETF continued to see outflows totaling $145 million last week. As of this weekend, Grayscale’s cryptocurrency ETF had recorded $268 million in outflows so far this year.
Flows by Issuer (Millions of USD) Source: CoinShares
Regionally, the United States saw the majority of inflows at $2 billion, while Switzerland and Canada also saw healthy inflows at $89 million and $13 million, respectively.
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