07.04.2026 16:27
A recent report from internet sources shows that global crypto exchange‑traded products (ETPs) attracted $224 million in fresh capital last week, rebounding from a $414 million outflow the week before, according to data from CoinShares. While the headline figure suggests a strong recovery, a closer examination reveals that the resurgence is far more limited than it initially appears.
Switzerland alone was responsible for about $157 million of the total inflow, accounting for roughly 70 % of the worldwide surge. Germany and the United States each contributed approximately $28 million, while Canada added a modest $11 million. The concentration extends to the asset side as well: XRP dominated the inflows, pulling in close to $120 million—over half of the global total and the biggest weekly intake for the token since mid‑December 2025.
In the United States, spot XRP ETFs saw virtually no activity. SoSoValue’s figures indicate that the five U.S.–listed XRP spot ETFs recorded near‑zero daily flows over the past two weeks, with combined net assets standing at $940 million across products from Canary, Bitwise, Franklin, 21Shares, and Grayscale. Consequently, the $120 million influx was almost entirely driven by European and other international ETP investors.
Bitcoin‑linked ETPs also saw a sizable influx, gathering $107 million, yet only $22 million originated from U.S. spot Bitcoin ETFs, which remain in negative territory for the year to date. Over the same week, a single strategic player purchased 4,871 BTC for roughly $330 million—an amount fifteen times larger than the total net new capital attracted by the entire U.S. spot Bitcoin ETF suite. In March’s rolling 30‑day window, ETFs absorbed about 50,000 BTC, the highest level since October 2025, as noted by CoinDesk.
Despite these figures, the bulk of sustained institutional buying is funneled through just two avenues: spot ETFs and the aforementioned strategic purchases, and even the ETF route is losing steam on a weekly basis. The broader ETP landscape—encompassing leveraged funds, short products, and a plethora of altcoin vehicles across dozens of jurisdictions—offers little support for the prevailing “institutions are buying” storyline. Ether‑related products, for their part, continued to see outflows, extending the downward trend.
