Key Market Overview
The European Crypto ETP market recorded $305.3 million in net inflows** during January 2025, marking the **seventh consecutive month of positive flows**. Bitcoin ETPs dominated with **46% of total inflows ($141.6M), followed by XRP ($129.3M) and Solana ($32.4M). Ethereum ETPs saw significant outflows (-$98.9M).
👉 Explore top-performing crypto ETPs
Market Share Analysis
AUM & Net New Assets by Issuer
| Issuer | AUM ($M) | NNA Jan 2025 ($M) | Market Share |
|---|---|---|---|
| 21Shares | 5,562.2 | 171.6 | 37% |
| CoinShares | 2,705.2 | 97.1 | 18% |
| Bitwise | 2,022.6 | -48.4 | 13% |
Data as of 31/01/2025 (Source: Bloomberg)
Top Products of January 2025
CoinShares Physical Bitcoin (BITC)
- AUM: $1,512.7M
- Inflows: $79.2M
21Shares XRP ETP (AXRP)
- Became Europe's 3rd largest crypto ETP by AUM ($691M)
- Recorded $58.9M inflows
21Shares Bitcoin Core ETP (CBTC)
- $328.4M AUM
- $58.1M inflows
US Market Highlights
Spot Bitcoin ETFs
- Total AUM: $119.2B (+13.5% MoM)
- Top Performer: iShares Bitcoin Trust (IBIT) with $3.46B inflows
Futures ETFs
- ETHU 2x Ether ETF led with $204.7M inflows
- Average daily trading volume reached $145.7M
👉 Compare crypto ETF performance
Trading Insights
European Secondary Market
- Xetra Exchange dominated with $63.8M daily turnover
21Shares maintained the tightest spreads:
- ABTC: 9.71 bps spread
- CBTC: 11.37 bps spread
| Exchange | Jan 2025 ADV ($M) | 21Shares Market Share |
|---|---|---|
| Deutsche Börse | 63.8 | 32% |
| SIX Swiss | 23.3 | 59% |
| Nasdaq Stockholm | 14.0 | 1% |
FAQ Section
Q: Which crypto asset saw the highest inflows in Europe?
A: Bitcoin ETPs accounted for 46% of total inflows ($141.6M), followed by XRP ($129.3M).
Q: How did Ethereum ETPs perform?
A: Ethereum products recorded $98.9M outflows – the only major asset with negative flows.
Q: What's the outlook for US Spot Bitcoin ETFs?
A: AUM grew 13.5% MoM to $119.2B, with iShares IBIT leading at $59.4B AUM.
Q: Which exchange has the most crypto ETP liquidity?
A: Deutsche Börse Xetra leads with $63.8M average daily turnover.
Key Takeaways
- XRP surpassed Ethereum as Europe's 3rd largest crypto ETP by AUM
- US Spot Bitcoin ETFs continue expansion (+$5.75B inflows)
- 21Shares maintains spread leadership with sub-10bps pricing on top products
All data sourced from Bloomberg as of January 31, 2025. Physical ETPs only.