Cryptocurrency investment products saw another week of strong inflows, fueled by optimism around a potential US–Iran ceasefire extension and a breakout in Bitcoin that boosted investor sentiment.
Crypto exchange-traded products (ETPs) recorded $1.4 billion in inflows last week, up from $1.1 billion the week prior, marking the second-strongest weekly performance since January, according to CoinShares.
This extends a three-week inflow streak totaling $2.7 billion, bringing year-to-date inflows to around $3.8 billion. Assets under management have climbed to $154.8 billion — the highest level since early February, after dropping to about $128 billion in March.
James Butterfill said the surge likely reflects renewed risk appetite tied to ceasefire developments, alongside Bitcoin nearing $78,000 on Friday, based on data from CoinGecko.
Bitcoin dominated last week’s inflows, attracting $1.12 billion and pushing its year-to-date total to $3 billion, with AUM reaching $123 billion. Much of this came from US spot Bitcoin ETFs, which alone saw $1 billion in inflows.
Meanwhile, Ethereum investment products recorded $328 million in inflows — their strongest week since January — bringing year-to-date flows back into positive territory at $197 million.
Altcoin-focused ETPs lagged behind, with products tied to XRP and Solana posting net outflows. XRP led declines with $56 million in redemptions, while Solana saw a more modest $2.3 million exit.
Short-Bitcoin products recorded $1.4 million in inflows, pointing to limited but persistent hedging demand.
Regionally, the United States dominated with $1.5 billion in inflows, followed by Germany with $28 million. Switzerland, meanwhile, saw the largest outflows at $138 million.
Commenting on macro conditions, James Butterfill said markets largely looked past March’s 3.3% CPI reading, with core inflation at 2.6% viewed as relatively contained and more supply-driven than broad-based.
Echoing that view, Laser Digital told that backward-looking indicators like CPI and PMIs offer limited insight in the current environment.
“Delayed indicators like CPI and PMIs mostly reflect past conditions rather than the current situation,” the firm said, adding that the outlook remains “cautiously optimistic.”
Sentiment gains were also reflected in the Crypto Fear & Greed Index, which climbed from “extreme fear” to “fear,” with the score rising above 29 on Monday — its highest level since Jan. 29.
