Weekly Channel Summary
The Cryptocurrency ETF channel, comprising 85 funds from 23 issuers, currently holds $87.75B in total assets. The segment experienced significant net outflows of $897M over the past week, deepening year-to-date redemptions to $4.64B. Despite the recent negative sentiment, the channel has still attracted a substantial $17.44B in net new assets over the last twelve months.
This Week’s Performance Leaders and Laggards
It was a difficult week for cryptocurrency performance, with all categories posting significant losses. Ethereum-focused funds were the hardest hit, falling 8.77% for the week and bringing their year-to-date decline to 47.60%. Bitcoin products fared best on a relative basis, though still dropped 5.92% over the five-day period. On a year-to-date basis, all categories are down more than 32%, with Altcoin funds showing the largest decline at 44.14%.
Category Performance Snapshot
| Category | WTD | 1 Month | 3 Month | 6 Month | YTD | 1 Year |
|---|---|---|---|---|---|---|
| Bitcoin | -5.92% | -21.96% | -16.58% | -32.30% | -32.53% | -45.38% |
| Multicoin | -6.64% | -22.10% | -19.11% | -35.97% | -35.99% | -43.88% |
| Altcoin | -7.62% | -19.88% | -26.98% | -44.13% | -44.14% | -59.60% |
| Ethereum | -8.77% | -24.57% | -28.37% | -46.98% | -47.60% | -36.16% |
Top & Bottom 5 ETFs by Weekly Performance
Funds employing hedging or alternative strategies weathered the market downturn far better than their direct exposure counterparts. The Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT) was nearly flat for the week, declining just 0.09%. Conversely, Altcoin funds suffered the steepest losses, led by the Volatility Shares Stellar ETF (STLR), which plunged 26.59%. Several other Altcoin products, including funds focused on Cardano and Polkadot, also experienced double-digit percentage drops.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NGHT | Nicholas Bitcoin and Treasuries AfterDark ETF | -0.09% |
| HBTC | Fortuna Hedged Bitcoin ETF | -0.97% |
| BTCK | 7RCC Spot Bitcoin and Carbon Credit Futures ETF | -1.09% |
| BTRN | Global X Bitcoin Trend Strategy ETF | -1.11% |
| ORO | Arrow Valtoro ETF | -2.89% |
| Bottom Performers | ||
| STLR | Volatility Shares Stellar ETF | -26.59% |
| CRDD | Volatility Shares Cardano ETF | -14.69% |
| TDOT | 21shares Polkadot ETF Shares of Beneficial Interest | -12.68% |
| BWOW | Bitwise Dogecoin ETF | -11.88% |
| TDOG | 21Shares Dogecoin ETF | -11.68% |
Analyzing the Weekly Flows
Investors pulled a net $897M from the cryptocurrency channel this week, driven almost entirely by redemptions from the two largest categories. Bitcoin funds led the exodus, shedding $720M, while Ethereum funds saw outflows of $191M. This continues a negative trend for both, with year-to-date outflows now exceeding $4.2B for Bitcoin and $1.3B for Ethereum. In a bright spot, the Altcoin category managed to attract a modest $15M in net new assets.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Altcoin | 40 | $2.33B | $15M | $198M | $621M | $1,002M | $4,313M |
| Multicoin | 12 | $789M | $0M | $78M | $75M | -$45M | -$135M |
| Ethereum | 12 | $8.59B | -$191M | -$624M | -$677M | -$1,386M | $7,004M |
| Bitcoin | 21 | $76.03B | -$720M | -$4,443M | -$3,690M | -$4,214M | $6,261M |
Top & Bottom 5 ETFs by 5-Day Flow
Outflows were highly concentrated in a few large funds, particularly from a single issuer. The iShares Bitcoin Trust ETF (IBIT) experienced a massive $690M redemption, accounting for the majority of the channel’s weekly net outflow. Its sibling fund, the iShares Ethereum Trust ETF (ETHA), saw the second-largest outflow at $173M. Bucking the trend, the Grayscale Bitcoin Mini Trust ETF (BTC) was the top asset gatherer, pulling in $72M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| BTC | Grayscale Bitcoin Mini Trust ETF | $72M |
| ARKB | ARK 21Shares Bitcoin ETF | $44M |
| MSBT | Morgan Stanley Bitcoin Trust ETF | $27M |
| BITO | ProShares Bitcoin ETF | $21M |
| XRP | Bitwise XRP ETF | $8M |
| Outflows | ||
| IBIT | iShares Bitcoin Trust ETF | -$690M |
| ETHA | iShares Ethereum Trust ETF | -$173M |
| GBTC | Grayscale Bitcoin Trust ETF | -$135M |
| FBTC | Fidelity Wise Origin Bitcoin Fund | -$40M |
| BITB | Bitwise Bitcoin ETF Trust | -$28M |
Issuer League Table Update
iShares and Grayscale continue to dominate the cryptocurrency ETF landscape, commanding 56.82% and 16.40% of the market share, respectively. However, iShares was the primary source of outflows this week, with its funds bleeding a net $865M. Grayscale also saw net redemptions totaling $77M. On the other side of the ledger, 21Shares led all issuers with $45M in net inflows for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| iShares | 3 | $49.86B | 56.82% |
| Grayscale | 11 | $14.39B | 16.40% |
| Fidelity | 3 | $12.09B | 13.78% |
| Bitwise | 11 | $3.85B | 4.39% |
| 21Shares | 12 | $2.18B | 2.49% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| 21Shares | $45M |
| Morgan Stanley | $27M |
| ProShares | $21M |
| Outflows | |
| iShares | -$865M |
| Grayscale | -$77M |
| Fidelity | -$40M |
For a deeper dive into these trends, access our FREE, in-depth Cryptocurrency ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
