Crypto ETP Inflows Hit $17.8B in H1 2025 — Slight Dip Despite Record Institutional Demand

Crypto ETPs Record $17.8B in Inflows for H1 2025

Despite ongoing institutional interest and strong weekly inflow momentum, crypto exchange-traded products (ETPs) saw a slight 2.7% decline in net inflows for the first half of 2025 compared to the same period last year, according to the latest report by CoinShares.

The total inflows from January through June reached $17.8 billion, just shy of the $18.3 billion recorded in H1 2024.

Strong Weekly Momentum: 11 Weeks of Consecutive Inflows

The final week of June alone brought in $2.7 billion, marking the 11th straight week of inflows. These weekly investments accounted for $16.9 billion, or nearly 95% of all year-to-date inflows—highlighting a strong resurgence in investor appetite.

“It’s a sign that despite slight underperformance year-over-year, institutional conviction remains high,” said James Butterfill, Head of Research at CoinShares.

Crypto ETP flows by asset as of June 27 (in millions of US dollars). Source: CoinShares

Related: Crypto ETPs Hit $10.8B in 2024 Inflows, Led by Bitcoin and Ethereum

Bitcoin ETPs Dominate with $14.9 Billion YTD

Bitcoin-focused investment products were the overwhelming favorite among institutional investors, drawing $14.9 billion in inflows—84% of the total. This dominant position aligns with Bitcoin’s role as the leading crypto asset in the ETP space.

In the latest week alone, Bitcoin ETPs attracted $2.2 billion, continuing their month-long trend of outperforming other digital assets.

Ether and XRP Follow as Secondary Gainers

Following Bitcoin, Ether (ETH) ETPs recorded $429 million in weekly inflows and $2.9 billion for the half-year, accounting for 16.3% of total inflows.

XRP products came in third, gaining $10.6 million in the final week of June and reaching $219 million in H1. Notably, these inflows came despite the lack of U.S.-based spot XRP ETFs, although Canada launched XRP ETPs on June 18.

Crypto ETP flows by asset as of June 27 (in millions of US dollars). Source: CoinShares

Related: Bitcoin Stalls Above $100K as Long-Term Holders Sell Into Institutional Demand

BlackRock Leads the Pack with 96% of Total Inflows

Investment giant BlackRock continues to dominate the crypto ETP space. According to CoinShares, BlackRock’s crypto products pulled in over $17 billion, representing 96% of all crypto ETP inflows in H1 2025.

Other notable issuers include:

• ProShares with $526 million

• Fidelity with $246 million

Meanwhile, Grayscale Investments saw net outflows nearing $1.7 billion, continuing a downward trend in market share.

Market Context: Bitcoin Holds Gains Amid Slight Correction

CoinShares' report coincides with a minor correction in Bitcoin (BTC) prices. After surging from $101,000 to $107,800 last week, BTC dipped slightly below $108,000 on Monday, according to CoinGecko.

Despite the dip, the ongoing ETP inflows suggest institutional investors remain confident in Bitcoin’s long-term trajectory.

Conclusion: Crypto ETPs Show Resilience Despite Slight YoY Dip

While 2025’s first-half inflows trailed last year’s total by 2.7%, the broader picture shows robust and consistent demand—driven largely by Bitcoin, BlackRock, and continued ETF market expansion. With growing regulatory clarity and new products like XRP ETPs launching globally, the second half of the year may yet outpace 2024’s full performance.