Crypto ETP Traders Unfazed As Post-Crash Outflows Net $668M
Cryptocurrency investment products were unable to sustain their two-week inflow streak, with fund flows turning negative last week following crypto’s “Black Friday” market crash.
Crypto exchange-traded products (ETPs) saw $513 million in outflows last week, ending the two-week streak totaling $9.1 billion, CoinShares reported on Monday.
Addressing the total $668 million of outflows following the “Binance liquidity cascade” on Oct. 10, CoinShares head of research James Butterfill said the ETP market saw less panic than the spot market.
He said that while crypto ETP investors largely “shrugged off this event,” onchain investors were more bearish.
Bitcoin was the only major asset to see outflows
Bitcoin (BTC) was the primary source of losses in crypto ETPs last week, with outflows totaling $946 million. The outflows pulled down year-to-date inflows to $29.3 billion, significantly lagging behind last year’s total of $41.2 billion, Butterfill added.
On the other hand, Ether (ETH) continued to gain momentum as investors were buying the dip, with funds posting $205 million of inflows. The largest inflows were seen into a 2x leveraged Ether ETP totaling $457 million, Butterfill noted.
Solana (SOL) and XRP (XRP) funds continued to see inflows amid the optimism on new ETP launches, with inflows totaling $156 million and $74 million, respectively. Solana ETPs specifically stood out, with inflows surging 67% compared to the previous week.
Crypto Fear & Greed Index drops to multi-month lows
The fresh outflows from crypto ETPs came amid the Crypto Fear & Greed Index — an indicator measuring the overall sentiment of the cryptocurrency market — falling to levels not seen since April.
According to data from Alternative.me, the index dropped to a score of 22 last Friday amid Bitcoin tumbling below $105,000, reflecting strong “Fear” by spot BTC investors.
The “Fear” sentiment continued to prevail as of Monday with a score of 29. The lowest index level recorded in 2025 so far was at a score of 10 observed in late February, when Bitcoin saw a sharp slide from $96,000 to around $84,000, according to CoinGecko data.
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By publishing time, Bitcoin traded at $111,019, seeing losses of roughly 3% in the past seven days, and down around 4% in the past month.
Ether traded at $4,035, declining around 3% in the past week and 9% over the past 30 days.
Magazine: Ether’s price to go ‘nuclear,’ Ripple seeks $1B XRP buy: Hodler’s Digest, Oct. 12 – 18