Monthly
flow report

For crypto ETPs and ETFs

Our Capital markets team is a cross functional department involved in many levels of our core business. Composed of professionals with extensive experience in crypto-assets and traditional finance, the team focuses on ETF/ETP trading and liquidity, providing quantitative cutting-edge insights.

Our team
Alistair Byas-Perry
VP, Head of Capital Markets & EU Investment
Nicolò Finazzi
Senior Associate, Capital Markets
Alessandro Mondio
Director, Capital Markets
Brendan Layne
Associate, Capital Markets
Michael Friedman
Director, US Capital Markets
21shares
Monthly flows report
June 2026
GlobalUSEU
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June 2026

Europe
  • June marked a continuation in the positive flow trend for European Crypto ETPs, with over $117M in aggregate inflows. Now halfway through the year, 2026 has been significatively positive with over $1.1B in YTD inflows.
  • The positive flows were once again primarily driven by Bitcoin ETPs, which added $131.6M, alongside Ethereum ETPs at $26.8M. On the other hand, Hype and Near ETPs led outflows at $16.5M and $13.5M, respectively.
  • Although market volatility and asset contractions dragged aggregated AUM down to $9.5B, demand for Crypto ETPs remained resilient. This sustained investor appetite decoupled from short-term price action as allocators continued to establish strategic, longer-term footprints.
  • 21shares retained the top spot across issuers for physical Crypto ETPs with a 24.8% market share of AUM, increasing 0.1% month-over-month.
  • ABTC, CBTC, AETH, ETHC, and ASOL defended their positions as the 21shares ETPs with the tightest average bid-ask spreads, with AETH climbing ahead of CBTC. Despite underlying asset underperformance, the 21 Shares trading infrastructure proved highly resilient. Notably, average spreads for the 21shares Bitcoin ETP (ABTC) held below 6 bps, consistently cementing its market-leading liquidity position.
  • Ethereum ETPs demonstrated solid secondary-market integrity, maintaining a high-quality liquidity profile despite volatile conditions; namely, ETHC’s spread came down 3.61% to 8.81 bps, as the suite continues to provide investors with seamless and robust execution. Similarly, Bitcoin ETPs showcased their stability, remaining resilient with steady spreads even during a period of market stress.
  • Navigating a climate of increased market turbulence, trading volumes across European exchanges rose by 8.7% for the first time since February, with 21shares capturing a significant share of the activity. Highlighting the steadfast reliability of its product suite, 21shares’ADV held firm at $20.2M, underscoring consistent demand despite broader market shifts. Namely, ABTC ($4.8M) led the way, increasing 31.4% month-over-month, closely supported by strong activity in CBTC ($3.2M), AETH ($2.1M), and ASOL ($1.9M).
  • The European crypto ETP market displayed core strength in June, led by the dominance of Xetra, which cleared $37.9M in daily turnover. A key highlight in addition to Xetra’s 19.6% MoM increase was the London Stock Exchange, which finished the month up ~ 14.9% from $4.2M ADV to $4.8M ADV. This resilience seen across multiple exchanges suggests that investor appetite in key regions remains unfazed by broader market swings.
  • 21shares continues to spearhead the market across major exchanges, with leading market share across Europe on SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Paris, London Stock Exchange, Euronext Amsterdam, and Borsa Italiana.
United States
  • The AUM for Spot Crypto ETFs in the US contracted to $88.1B in June, falling 25% MoM as BTC ETFs saw $4.4B in outflows. Spot Ethereum ETFs finished with $9.2B in AUM, down 26.4% MoM due to over $430M in net outflows and a 21.4% correction in ETH’s price.
  • The US market continues to diversify its product suite, transitioning from high-volume launches to sophisticated, targeted innovations. This month's highlights showcase this deepening market maturity, marked by the arrival of the first ' 33 Act spot BNB ETF and a new Bitcoin Premium Income ETF that introduces passive income generation alongside core Bitcoin exposure.
  • June marked a trend-continuation for US Crypto ETFs, with net outflows past $4.5B on the heels of May’s $2.6B in net negative NNAs. This highlights a more fragile sentiment among US investors as the underlying market contends with bearishness and diminished risk appetite.
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Total monthly flows into crypto ETFs & ETPsETFs (US)ETPs (Europe)
Last month NNA by crypto asset (globalUSEurope, top 10 only)
Last month NNA by issuer (globalUSEurope)
Average daily value (ADV) traded on Europe’s major exchanges
June 2026
June 30, 2026
Issuer AUM NNA Jun26 NNA 2026 21shares 2356.2 3.2 126.0 CoinShares 1878.0 24.8 154.5 WisdomTree 1461.0 34.1 159.2 Bitwise 1182.1 -13.6 51.4 BlackRock 918.9 70.6 525.1 Vaneck 685.0 6.7 26.3 Virtune 242.4 7.9 39.1 Invesco 241.3 -19.2 13.8 Fidelity 229.2 0.3 23.4 Hashdex 104.1 -0.5 5.9 DWS 62.8 3.4 12.8 nxtAssets 44.9 0.0 25.2 Amina 42.7 0.0 -9.5 DDA 24.5 -0.9 0.5 HANetf 8.4 0.2 8.5 Fineqia 5.7 0.0 0.2 FiCAS 5.4 0.0 0.0 Global X 5.1 0.4 0.3 Amundi 2.2 1.4 1.4 Issuance Swiss 1.8 -1.6 -4.7 Bitcoin Capital 0.9 0.0 0.0 Grand Total 9502.7 117.5 1159.4
Underlying AUM NNA Jun26 NNA 2026 Bitcoin 5931.7 131.6 1124.5 Ethereum 1030.5 26.8 177.2 Solana 773.7 -3.4 -83.6 XRP 626.2 4.1 -112.1 Basket 538.6 -11.0 -8.8 SUI 72.5 1.0 8.5 Stellar 67.4 1.3 1.8 Hype 53.8 -16.5 9.7 Near 49.1 -13.5 4.3 Cardano 34.8 1.5 7.0 Chainlink 34.2 0.9 -2.0 Lido Staked ETH 33.3 0.0 10.4 Cronos 32.2 0.0 0.1 Tron 28.6 -2.0 -17.2 Litecoin 19.3 0.3 1.1 Avalanche 16.5 0.1 0.3 Polkadot 14.1 0.4 2.9 TON 12.8 -6.5 1.0 Algorand 12.1 0.0 0.0 Equity 11.9 5.9 12.5 BNB 11.5 -0.6 -4.7 XDC 9.6 0.0 0.1 Dogecoin 8.9 0.0 0.8 Ondo 8.4 -3.5 3.7 Celestia 8.3 0.0 0.3 Uniswap 8.1 -0.3 0.6 AAVE 6.5 2.7 -0.3 Polygon 6.3 0.0 0.4 Bittensor 6.1 -0.9 4.2 Tezos 5.7 0.0 0.1 Bitcoin Cash 4.2 0.4 -0.1 Canton Coin 3.9 1.2 4.0 Aptos 3.0 0.0 0.5 Render 3.0 -0.3 2.8 Other Underlyings* 16.2 -2.2 9.7 Grand Total 9502.7 117.5 1159.4
Month Net flows AUM Jul25 Aug25 Sep25 1304.5 18118.1 Oct25 467.7 17701.3 Nov25 -158.0 14409.9 Dec25 193.5 13627.8 Jan26 254.9 12943.7 Feb26 383.0 10475.5 Mar26 176.5 10828.9 Apr26 112.9 12045.6 May26 103.8 11584.5 Jun26 117.5 9502.7
Exchange ADV Jun26 ADV 2026 Deutsche Börse Xetra 37.9 43.4 SIX Swiss Exchange 11.4 15.4 London Stock Exchange 4.8 6.5 Euronext Paris 4.5 4.7 Euronext Amsterdam 3.3 3.6 Nasdaq Stockholm 2.7 3.1 Borsa Italiana 1.2 1.5
Issuer AUM NNA Jun26 NNA 2026 BlackRock 47724.8 -3940.0 -2828.2 Grayscale 14594.2 -367.8 -1329.6 Fidelity 11087.9 -498.4 -2440.8 Bitwise 3895.1 -22.7 349.2 ProShares 2344.2 -138.0 234.9 21shares 2124.5 -49.0 -390.2 Volatility Shares 1664.4 287.9 881.8 NEOS 1088.9 51.4 668.1 Vaneck 1054.2 -28.8 40.2 Franklin Templeton 618.7 12.3 183.7 CoinShares 356.1 -4.8 7.1 Invesco 334.2 -71.8 -38.8 Canary 314.0 16.0 107.3 Morgan Stanley 296.5 101.4 364.8 Hashdex 201.9 115.7 126.3 WisdomTree 135.3 4.4 52.2 Rex-Osprey 121.9 -3.9 -36.2 Teucrium 88.1 18.8 97.0 Rex Shares 56.4 -10.4 15.3 Simplify 23.4 0.0 -3.0 GSR 7.6 0.0 8.1 Grand Total 88132.3 -4528.0 -3930.8
Underlying AUM NNA Jun26 NNA 2026 Bitcoin 74832.8 -4442.3 -4352.9 Ethereum 9240.8 -432.9 -957.1 XRP 1230.0 93.1 513.7 Solana 1124.3 8.0 453.1 Basket 1102.3 75.4 -80.5 Hype 329.8 158.5 300.5 Chainlink 92.2 3.7 64.4 SUI 55.9 3.8 41.0 Hedera 46.1 1.6 18.6 Avalanche 32.2 0.3 35.8 Dogecoin 26.9 0.8 21.5 Polkadot 7.4 0.4 1.9 Canton Coin 6.3 1.4 6.6 Litecoin 5.3 0.3 2.6 Grand Total 88132.3 -4528.0 -3930.8
Month Net flows AUM Jul25 Aug25 Sep25 Oct25 Nov25 -3175.5 150464.2 Dec25 74.3 144160.2 Jan26 -1207.1 135305.2 Feb26 -6.2 103586.5 Mar26 1559.3 109284.4 Apr26 2792.1 124826.5 May26 -2589.7 116145.8 Jun26 -4528.0 88132.3
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