Investor caution returned to digital asset markets last week as cryptocurrency exchange-traded products (ETPs) recorded $240 million in outflows, ending a two-week streak of inflows totalling $870 million.
CoinShares’ April 7 report revealed the shift in sentiment, which also pinned the renewed pullback on growing economic uncertainty tied to U.S. trade tariffs and their potential global implications.
Bitcoin-backed ETPs were hit hardest, shedding $207 million within the week—enough to drag monthly flows into negative territory for the first time in 2025, with $138 million exiting the market over the past 30 days. Still, Bitcoin products remain in the green every year, holding $1.3 billion in net inflows since the start of the year.
Ethereum-linked ETPs also saw a weekly downturn, losing $38 million. However, Ether’s ETPs reflect a net positive trend year-to-date with $279 million in inflows. In contrast, multi-asset crypto products and short Bitcoin ETPs have struggled more broadly, with year-to-date outflows of $144 million and $26 billion, respectively, despite minor weekly gains.
Grayscale Investments saw the largest investor retreat among asset managers, with $95 million withdrawn from its crypto ETPs last week. That puts its 2025 year-to-date net outflows at $1.4 billion—currently the highest across all providers.
On the other hand, BlackRock’s iShares ETFs, while facing $56 million in outflows last week, still lead the year with $3.2 billion in net inflows. Meanwhile, ProShares and ARK Invest remain the only other major issuers with positive year-to-date performances, posting $398 million and $146 million in inflows, respectively.
Notably, the digital asset market experienced a downturn after five weeks of inflows, with cryptocurrency investment products attracting $1.3 billion, totaling $7.3 billion for the year. Despite ongoing investor interest, total assets under management in exchange-traded products fell to $163 billion from a January peak of $181 billion due to recent price corrections in the crypto market.
