Thomas Daniels
Cryptocurrency exchange-traded products (ETPs) recorded substantial investor withdrawals last week, with $240 million in capital pulled, according to digital asset manager CoinShares. The pullback ends a two-week streak of inflows totaling $870 million and reduces total digital asset ETP holdings to approximately $133 billion.
The decline in flows appears to reflect investor caution following the imposition of global trade tariffs by the United States, a move that has raised broader concerns about global economic stability. James Butterfill, head of research at CoinShares, highlighted that the macroeconomic uncertainty may be driving risk-averse behavior among institutional investors.
Bitcoin ETPs Turn Monthly Flows Negative
Bitcoin (BTC) ETPs led the weekly downturn, accounting for $207 million in outflows. As a result, net monthly flows have turned negative for the first time in 2025, with $138 million withdrawn over the past 30 days. Despite this shift, year-to-date inflows into Bitcoin ETPs remain robust at $1.3 billion.
Ether (ETH)-linked ETPs followed with $38 million in weekly outflows. However, these products continue to hold $279 million in inflows for the year. Meanwhile, multi-asset ETPs and short Bitcoin ETPs have faced $144 million and $26 billion in year-to-date outflows, respectively, despite seeing minor inflows over the past week.
Grayscale Tops ETP Outflows
Grayscale Investments led all issuers in outflows, with $95 million withdrawn from its ETPs last week. This brings its total year-to-date outflows to $1.4 billion—making it the most affected provider so far in 2025.
In contrast, iShares ETFs by BlackRock remain a top destination for crypto-focused capital, holding $3.2 billion in net inflows despite experiencing $56 million in outflows last week. Among other major issuers, ProShares and ARK Invest remain the only ones to sustain positive year-to-date inflows, totaling $398 million and $146 million, respectively.
The data underscores the cryptocurrency market’s sensitivity to broader geopolitical and economic developments, particularly policy shifts such as trade tariffs, which can quickly influence institutional sentiment and capital allocation.
