Bitcoin ETPs Continue to Lead Trading Volume as Blockchain Stocks Witness Another Week of Inflows: CoinShares

Digital Asset Investment Products See Outflows, but Trading Volumes Remain High

The total outflows for digital asset investment products amounted to $21 million. However, trading volumes for Bitcoin reached $11.8 billion, which is seven times the typical weekly trading volume in 2023. CoinShares notes that these figures reflect the overall trading activity in the crypto markets.

ETPs Drive Trading Activity

Bitcoin saw minor outflows of $25 million, but the $11.8 billion trading volumes represented 63% of all Bitcoin volumes on trusted exchanges. This indicates that ETP activity is currently dominating the overall trading activity.

CoinShares highlights that higher-cost ETPs experienced outflows, while newer low-fee ETFs saw inflows. Incumbent issuers with higher costs suffered $2.9 billion in outflows in the US, while newly issued ETFs attracted $4.13 billion in inflows since their launch.

Outflows for Altcoins

Altcoins also faced outflows last week. Ethereum (ETH), a leading smart contract platform, experienced outflows of $14 million, while Solana (SOL), its rival, suffered $8.5 million in outflows.

Hot Take: Bitcoin ETPs Take the Lead in Trading Volume

Institutional investors are increasingly turning to Bitcoin exchange-traded products (ETPs) following the approval of a spot BTC exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). CoinShares reports that although crypto investment products saw outflows last week, trading volumes for Bitcoin remained high. ETP activity dominated overall trading activity, with higher-cost ETPs experiencing outflows while newer low-fee ETFs attracted inflows. Altcoins like Ethereum and Solana also faced outflows. These trends indicate a growing interest in Bitcoin among institutional investors.