- Global crypto ETPs recorded a massive US$3.75 billion in inflows last week, setting new records despite negative outflows on Friday for US Bitcoin and Ethereum ETFs.
- Ethereum was the primary driver with US$2.86 billion in ETP flows as its price surged to a 2025 high of US$4,756 before correcting 9% to current levels around US$4,320.
- US Ethereum ETFs significantly outperformed Bitcoin ETFs with US$2.8 billion net inflows compared to Bitcoin’s US$547.6 million net outflows for the week.
- The United States dominated ETP flows with US$3.725 billion of the total, while trading volumes reached record levels of approximately US$40 billion for the week.
Despite outflows on Friday for US Bitcoin and Ethereum exchange-traded funds (ETFs), the broader group of exchange-traded products (ETPs) recorded a record-breaking week. According to a CoinShares report, global crypto ETPs saw inflows of US$3.75 billion (AU$5.76 billion) last week.
Last Week’s ETP and ETF Flows Break Records
Ethereum (ETH) was the single largest driver of inflows, as its price surged to a new 2025 high of US$4,756 (AU$7,311). While this represented an impressive 220% rally from its April low, the second-largest cryptocurrency remains below its 2021 all-time high.
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Since last week’s peak, Ether has corrected by roughly 9% and is currently trading at US$4,320 (AU$6,642). US spot Ethereum ETFs also outperformed BTC ETFs again last week. ETH funds attracted US$2.8 billion (AU$4.3 billion) of net inflows, despite Friday outflows of US$59.3 million (AU$91.2 million).
By comparison, US Bitcoin ETFs recorded only US$547.6 million (AU$842.2 million) of net inflows, with Friday alone seeing US$14.1 million (AU$21.7 million) of outflows. Total ETP flows for the week were US$552 million (AU$849 million) for Bitcoin and US$2.86 billion (AU$4.4 billion) for Ethereum.
Other notable ETP inflows included US$176.5 million (AU$271.4 million) for Solana (SOL), US$125.9 million (AU$193.6 million) for XRP, and US$11.2 million (AU$17.2 million) for Sui. Litecoin saw small outflows, while other ETPs experienced minimal inflows.
Another interesting fact about last week is that BlackRock was by far the biggest provider with 85% of weekly flows:
Unusually, almost all inflows were concentrated in a single provider, iShares, and one specific investment product. Total assets under management (AuM) reached an all-time high of US$244bn on 13th August following recent price rises.
CoinSharesUS Largest Player in Crypto ETPs as Trading Volume Surges
Unsurprisingly, the United States captured the lion’s share of flows, with US$3.725 billion (AU$5.72 billion) out of the global total of US$3.748 billion (AU$5.76 billion). Investors in Brazil, Germany, and Sweden, however, took some profits, as shown in the chart below.
Beyond the strong net inflows, last week also set a record for trading volume. According to Bloomberg ETF analyst Eric Balchunas, “ETPs did about US$40 billion in volume this week”, with Ether alone accounting for US$17 billion (AU$26.1 billion).
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