Crypto ETP inflows in H1 2025 dip slightly despite strong investor interest

The first half of 2025 saw crypto ETP inflows in H1 2025 reach $17.8 billion, a modest 2.7% decline compared to the same period last year, according to a new report from digital asset manager CoinShares. Despite the slight drop, the figures highlight sustained investor confidence in cryptocurrency investment products, particularly Bitcoin and Ethereum.

Steady demand despite minor slowdown

While crypto ETP inflows in H1 2025 fell short of 2024’s $18.3 billion, the market demonstrated resilience with 11 consecutive weeks of positive inflows leading up to June. The last week of June alone brought in $2.7 billion, contributing to a total of $16.9 billion over the 11-week streak, accounting for nearly 95% of the year’s inflows.

James Butterfill, head of research at CoinShares, noted that while the numbers were slightly lower than last year’s record, the consistent demand signals strong institutional and retail interest. “We’re seeing a maturing market where investors are strategically allocating funds rather than chasing short-term spikes,” he said.

Bitcoin remains the undisputed leader

Bitcoin ETPs dominated crypto ETP inflows in H1 2025, capturing 84% of total investments with $14.9 billion. The trend continued in late June, with Bitcoin products securing $2.2 billion of the weekly inflows.

Ethereum followed distantly, attracting $429 million in the final week of June and $2.9 billion over the six-month period, making up 16.3% of total inflows. XRP, despite lacking a U.S. spot ETF, still ranked third with $219 million in year-to-date inflows, bolstered by Canada’s recent launch of XRP exchange-traded products.

BlackRock’s crypto ETFs command the market

BlackRock solidified its position as the leading issuer of crypto ETPs, accounting for a staggering 96% of crypto ETP inflows in H1 2025. The asset management giant’s funds pulled in over $17 billion, dwarfing competitors like ProShares ($526 million) and Fidelity ($246 million).

Meanwhile, Grayscale Investments, once a dominant player, struggled with net outflows of nearly $1.7 billion. Analysts suggest that BlackRock’s lower fees and strong brand reputation have reshaped investor preferences.

Market outlook amid Bitcoin volatility

The latest crypto ETP inflows in H1 2025 report comes as Bitcoin experiences minor fluctuations, dipping below $108,000 after a strong rally earlier in June. The cryptocurrency surged from $101,000 to nearly $107,800 in just one week, reflecting the volatile yet upward-trending nature of the market.

Experts remain optimistic about the second half of 2025, anticipating potential regulatory developments and new product launches to drive further inflows. “With institutional adoption growing and more traditional finance players entering the space, we could see another record-breaking year,” Butterfill added.