Ethereum-based exchange-traded products (ETPs) have surged ahead of Bitcoin (BTC) for the first time in 2025, with $793 million in inflows, surpassing Bitcoin’s $407 million. This marks a significant shift in institutional sentiment, as Ethereum’s price dips below $2,700 on February 6, 2025. Despite this, institutional investors are capitalizing on the lower price, driving a “buying-on-weakness” trend.
CoinShares’ research director, James Butterfill, noted that this surge signals growing institutional interest in Ethereum, a trend reminiscent of late 2024. While Bitcoin remains dominant in year-to-date (YTD) inflows, with $6 billion—a 505% increase over Ethereum’s YTD inflows—Ethereum’s strong showing in the ETP market indicates a shift in investment strategies. Investors are increasingly diversifying their portfolios with Ethereum, alongside Bitcoin.
Additionally, XRP and Solana (SOL) ETPs have seen notable inflows, reflecting a broader trend of diversification among institutional investors. XRP ETPs saw a 45% increase, while Solana ETPs surged by 148%.
Despite robust inflows into ETPs, the total assets under management (AUM) in cryptocurrency ETPs fell 4%, dropping to $163 billion, partly due to a broader market correction. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) saw $315 million in inflows, while Fidelity’s Wise Origin Bitcoin Fund experienced $217 million in outflows.
With Ethereum ETPs gaining momentum, institutional interest is likely to continue growing throughout 2025, though the crypto market remains subject to macroeconomic and regulatory factors.
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