Cryptocurrency exchange‑traded products saw another strong week of inflows, with CoinShares reporting $1.4 billion flowed in last week — up from $1.1 billion the week before and marking the second‑largest weekly intake since January. The sector has recorded a three‑week inflow streak totaling $2.7 billion, leaving year‑to‑date net inflows at roughly $3.8 billion and assets under management at $154.8 billion, the highest level since early February after a March low near $128 billion.
CoinShares’ head of research, James Butterfill, said much of the lift reflected a recovery in risk appetite tied to ceasefire extension talks. Sentiment was further buoyed when Bitcoin nearly touched $78,000 on Friday, according to CoinGecko.
Bitcoin‑linked products led the flows, attracting $1.12 billion last week. That brings BTC ETP year‑to‑date inflows to about $3 billion and pushes Bitcoin ETP assets to $123 billion. US spot Bitcoin ETFs accounted for the bulk of the demand, contributing roughly $1 billion of last week’s inflows.
Ether products also saw increased demand, taking in $328 million in their strongest week since January and moving ETH ETPs into positive territory for the year with $197 million of inflows.
Many altcoin products experienced outflows: XRP led redemptions at $56 million, and Solana saw smaller outflows of $2.3 million. Short‑Bitcoin products registered modest inflows of $1.4 million, indicating limited hedging activity.
By region, the US dominated activity with $1.5 billion of inflows. Germany was the next largest positive contributor at $28 million, while Switzerland recorded the largest net redemptions of $138 million.
On macro factors, Butterfill said markets appeared to have largely looked through March’s Consumer Price Index print of 3.3% (core CPI 2.6%), viewing the inflation pressure as more supply‑driven than broad‑based. Nomura’s Laser Digital warned that lagging indicators such as CPI and PMIs reflect past conditions and offer limited guidance while geopolitical conflicts continue to disrupt supply chains and spending, calling the outlook ‘cautiously optimistic.’
Sentiment gauges moved higher as well: the Crypto Fear & Greed Index climbed from ‘extreme fear’ into ‘fear,’ rising above 29 for the first time since January 29.
Taken together, CoinShares’ data and commentary point to a renewed investor appetite led by Bitcoin, supported by improving market sentiment amid geopolitical developments and recent price momentum.