Cryptocurrency investment products recorded another strong week of inflows as optimism around US‑Iran ceasefire talks and a Bitcoin price breakout lifted investor sentiment.
CoinShares reported crypto exchange-traded products (ETPs) saw $1.4 billion of inflows last week, topping the prior week’s $1.1 billion and marking the second‑largest weekly inflow since January. After a three‑week inflow streak totaling $2.7 billion, crypto ETPs have roughly $3.8 billion in net year‑to‑date inflows and assets under management (AUM) of $154.8 billion — the highest since early February following a March low near $128 billion.
CoinShares’ head of research James Butterfill attributed much of the uplift to a recovery in risk appetite linked to ceasefire extension talks. Sentiment was further boosted when Bitcoin (BTC) nearly reached $78,000 on Friday, according to CoinGecko.
Bitcoin led last week’s gains, with $1.12 billion of inflows, bringing BTC ETP year‑to‑date inflows to $3 billion and AUM to $123 billion. US spot Bitcoin ETFs accounted for the bulk of the inflows, contributing about $1 billion last week.
Ether (ETH) products also saw a pickup, taking in $328 million in their strongest week since January and pushing ETH ETPs into positive territory year‑to‑date with $197 million of inflows.
Many altcoin ETPs registered outflows: XRP led with $56 million of redemptions, while Solana (SOL) saw minor outflows of $2.3 million. Short‑Bitcoin products recorded modest inflows of $1.4 million, suggesting limited hedging demand.
By region, the US dominated with $1.5 billion of inflows. Germany was second with $28 million, while Switzerland experienced the largest redemptions at $138 million.
On macro forces, Butterfill said markets appear to have largely looked through March’s Consumer Price Index increase of 3.3% (core CPI 2.6%), viewing inflation pressures as more supply‑driven than broad‑based. Nomura’s Laser Digital echoed that delayed indicators like CPI and PMIs reflect past conditions and offer limited insight while conflicts continue to affect supply chains and spending, calling the outlook “cautiously optimistic.”
Market sentiment metrics reflected improvement: the Crypto Fear & Greed Index moved from “extreme fear” to “fear,” rising above 29 for the first time since Jan. 29.
CoinShares’ data and market commentary indicate renewed investor appetite, led by Bitcoin and supported by improving sentiment amid geopolitical developments and recent price action.