Cryptocurrency ETPs See $240 Million in Outflows Amid Global Economic Concerns

Last week, cryptocurrency exchange-traded products (ETPs) experienced renewed outflows of $240 million, as reported by digital asset manager CoinShares on April 7. This marked a reversal from two consecutive weeks of inflows totaling $870 million, bringing total digital asset ETP holdings to approximately $133 billion. The outflows are believed to be a response to global trade tariffs imposed by the United States, raising concerns about their impact on global economic growth, according to CoinShares head of research James Butterfill. Bitcoin ETPs led the downturn with $207 million in weekly outflows, resulting in the first negative monthly flows of $138 million this year. Despite this, Bitcoin ETPs have seen significant year-to-date inflows totaling $1.3 billion. Ethereum (ETH)-linked ETPs also experienced $38 million in weekly outflows but maintained $279 million in year-to-date inflows. Grayscale Investments, a major crypto investment firm, saw the highest outflows among issuers last week, with $95 million withdrawn from its products. Grayscale's year-to-date outflows now total $1.4 billion, leading all ETP providers tracked by CoinShares. BlackRock's iShares ETFs maintained $3.2 billion in year-to-date inflows despite $56 million in outflows last week. ProShares and ARK Invest are the only other major issuers with year-to-date inflows, amounting to $398 million and $146 million, respectively.