Crypto ETP Inflows Near 2024 Levels as Institutional Demand Holds Firm

Investor appetite for crypto remains firm in 2025, with digital asset investment products recording sustained capital inflow, though the total fell just short of last year’s levels. Still, data indicates that demand for crypto ETPs remains strong across key markets.

Tracking the Global Flow of Crypto Investment Funds

Data from digital asset management firm CoinShares shows crypto ETPs attracted a total of $17.8 billion in the first half of the year — closely matching the $18.3 billion seen in the same period of 2024.

This result positions the crypto ETP market just 2.7% below last year’s mid-year mark, indicating a robust continuation of interest despite shifting market conditions.

Investment into digital asset products has persisted for eleven consecutive weeks. In the most recent of those weeks, inflows totalled $2.7 billion, bringing the cumulative figure over that period to $16.9 billion. That alone accounts for 95% of all year-to-date (YTD) inflows by the end of June.

The steady stream of inflows into crypto ETPs points to rising confidence, especially from institutional investors. It also reflects a shift in sentiment, with cryptocurrencies now being seen as part of longer-term investment strategies rather than short-term speculation.

Cryptocurrency investments are flowing across multiple regions, but the scale varies significantly from country to country.

So, which country is driving the largest inflows into crypto ETPs this year?

• The US leads with $2.65 billion invested in crypto ETPs in 2025 H1.
• Switzerland and Canada follow with $23 million and $19.8 million inflows, respectively.
• Canada saw a $13.6 million net outflow, while Hong Kong and Brazil experienced withdrawals of $2.3 million and $2.4 million.
• Hong Kong investors withdrew a notable $132 million in June alone, contrasting global inflow trends.

BlackRock Dominates Crypto ETP Market

In the competitive space of crypto investment product issuers, BlackRock has emerged as the dominant player. The asset management giant drew over $17 billion into its crypto ETP offerings in the first half of 2025. 

That inflow represented an overwhelming 96% of total global investment into such products for the period.

Other issuers also captured investor interest, albeit on a smaller scale. ProShares had $526 million in inflows, Fidelity $246 million, while Grayscale saw $1.7 billion in outflows.

These flows reflect shifting institutional preference, with investors appearing to favour providers perceived as more stable or better aligned with current market infrastructure.

Bitcoin and Ethereum Continue to Lead Inflows

Bitcoin retained its position as the principal asset of interest, accounting for 83% of weekly inflows. During the past week alone, it attracted $2.2 billion, reinforcing its dominance within crypto portfolios. 

The trend of capital exiting short-Bitcoin products also continued. These products saw $2.9 million in outflows last week, pushing total outflows for the year to $12 million.

Ethereum also drew solid investment, with $429 million added last week. For the year to date, Ethereum ETPs have seen inflows of $2.9 billion, demonstrating sustained confidence in the asset, even as it trails Bitcoin in volume.

Other assets such as Solana have attracted comparatively limited capital. Solana investment products have brought in only $91 million so far in 2025.

According to CoinShares’ assessment, the surge in demand for crypto ETPs is being driven by multiple factors. Heightened geopolitical uncertainty and unclear direction in global monetary policy are prompting investors to seek alternative asset classes, with digital currencies becoming a favoured option among institutional players.

Interest in crypto ETPs remains strong, even as the overall market capitalisation has seen a slight decline of over 2%. Data by CoinGecko confirms Bitcoin continues to dominate the market with a 62% share, followed by Ethereum at 8% at the time of writing.