Mixed sentiment as crypto funds see modest $6M inflows — CoinShares

Cryptocurrency exchange-traded products (ETPs) showed signs of recovery last week with minor inflows, after shedding more than $1 billion in outflows in the previous two weeks.

Crypto investment products saw inflows of $6 million during the week of April 14–18, reflecting mixed investor sentiment, CoinShares reported on April 22.

“While the week began with minor inflows, stronger-than-expected US retail sales figures mid-week likely triggered outflows of $146 million,” CoinShares’ head of research James Butterfill wrote.

Total assets under management (AUM) in crypto ETPs edged up 1.4% from $129 billion as of April 11 to $131 billion on April 18.

According to the report, BlackRock’s iShares exchange-traded funds saw the biggest inflows last week at $182 million, while major issuers like Fidelity saw $123 million of outflows from the issuer’s crypto ETPs.

Bitwise was among a few of the US issuers that saw inflows in its crypto ETPs, totaling $24 million, while the European issuer 21Shares saw bigger inflows at $37 million.

Even with minor inflows, all US crypto ETP issuers are currently in the red month-to-date. European-based 21Shares was the only issuer that had maintained $28 million of inflows in April.

Related: BlackRock reports $3B in digital asset inflows during Q1

Year-to-date, BlackRock’s iShares ETFs are solid with more than $3 billion of inflows, with the majority of issuers being in red, except for Proshares with $340 million of inflows and Cathie Wood’s ARK with $19 million YTD.

Asset-wise, Ether (ETH) saw the largest ETP outflows among other cryptocurrencies last week, totaling $26.7 million.

XRP (XRP) saw significant inflows of $37.7 million, standing out as the biggest gainer among other crypto ETPs.

Bitcoin saw minor outflows of $6 million, extending April outflows to $894 million. The asset still has $541 million of ETP inflows YTD, the biggest inflows before Ether and XRP, totaling $215 million and $214 million YTD, respectively.

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