Due to the impact of U.S. trade tariffs, cryptocurrency ETPs lost $240 million last week — CoinShares

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7 hours ago

Source: Cointelegraph Original: "{title}"

According to a report from digital asset management firm CoinShares on April 7, cryptocurrency exchange-traded products (ETPs) experienced a new wave of outflows last week, with investors withdrawing $240 million.

This outflow reversed the previous trend of inflows totaling $870 million over the past two weeks, bringing the total holdings of digital asset ETPs down to approximately $133 billion, CoinShares reported.

CoinShares' Head of Research, James Butterfill, stated that the new outflows may reflect investors' concerns about the global trade tariffs implemented by the U.S. and their potential threat to global economic growth.

Weekly cryptocurrency ETP fund flows since the end of 2024. Source: CoinShares

Bitcoin ETPs led the decline with a weekly outflow of $207 million. Monthly flows turned negative for the first time this year, with a net outflow of $138 million over the past 30 days.

Despite the monthly outflows turning negative, according to CoinShares data, Bitcoin ETPs have still maintained a significant inflow of $1.3 billion year-to-date.

Fund flows by asset (in millions of dollars). Source: CoinShares

Ethereum (ETH)-related ETPs also saw an outflow of $38 million last week, but have maintained an inflow of $279 million year-to-date.

Although multi-asset ETPs and short Bitcoin ETPs had small inflows last week, they have seen outflows of $144 million and $26 million year-to-date, respectively.

Major cryptocurrency investment firm Grayscale Investments led the losses among issuers last week, with its products experiencing an outflow of $95 million.

According to CoinShares data, Grayscale's year-to-date outflows have reached $1.4 billion, the highest among all tracked ETP providers.

Fund flows by issuer (in millions of dollars). Source: CoinShares

Meanwhile, BlackRock's iShares ETF maintained a net inflow of $3.2 billion year-to-date, despite an outflow of $56 million last week.

ProShares and ARK Invest's cryptocurrency ETPs are the only two major issuers that have maintained inflows year-to-date, with $398 million and $146 million, respectively.

Related: First Trust launches Bitcoin Strategy ETF

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