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
August 2026
GlobalUSEU
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August 2026

Europe
  • August accelerated the positive flow trend for European Crypto ETPs, capturing $288.9M in aggregate net inflows (a sharp increase from July's $61.3M). Over two-thirds through the year, 2026 remains strongly positive with over $1.51B in YTD net inflows.
  • Net inflows were overwhelmingly driven by Bitcoin ETPs, which added $219.9M, followed by Ethereum ETPs ($28.7M) and Hyperliquid ETPs ($18.9M). Conversely, Ondo led minor redemptions at - $3.6M.
  • Aggregated European ETP AUM expanded by 29.0% month-over-month to $13.2B (up from $10.2B in July), propelled by consistent organic inflows and robust price appreciation across underlying digital assets.
  • 21shares retained its top spot among physical Crypto ETP issuers with $3.3B in AUM, representing a 24.8% market share, supported by $53.1M in monthly net new assets.
  • ABTC, CBTC, AETH, ETHC, and ASOL defended their positions as the 21shares ETPs with the tightest average bid-ask spreads. ETHC and ASOL both demonstrated notable spread compression month-over-month, with ETHC improving to 8.62 bps (down from 9.62 bps) and ASOL tightening to 9.13 bps (down from 9.49 bps).
  • All large underlying (Bitcoin Ethereum, Solana) ETPs maintained exceptionally strong secondary-market liquidity, supported by active market-making and steady order flow across major European venues.
  • Broader European exchange turnover surged 69.3% month-over-month to $67.7M in average daily volume (up from $40.0M in July). 21shares captured substantial trading activity with 32% market share on turnover, led by increased activity on ABTC ($3.0M ADV), CBTC ($2.4M ADV), AETH ($1.5M ADV), and ASOL ($1.1M ADV).
  • Core trading venues experienced a sharp surge in daily turnover alongside the broader market rally. Deutsche Börse Xetra led overall activity with $37.2M in daily turnover (up 73.8% MoM), while SIX Swiss Exchange ($9.3M ADV) and the London Stock Exchange ($6.0M ADV) also posted significant volume gains. Euronext Amsterdam, Paris, Nasdaq and Borsa Italiana all recorded ADV higher than their respective yearly average.
  • 21shares maintained market leadership across key European exchanges, holding first place in market shares over the month on Borsa Italiana (55%), Euronext Amsterdam (52%), Euronext Paris (49%), SIX Swiss Exchange (49%), LSE (27%), and Xetra (24%).
United States
  • Total AUM for Spot Crypto ETFs in the US surged to $128.5B in August, rising 34.0% from $95.9B in July. This significant expansion was powered by strong underlying price performance across digital assets (led by Bitcoin's rally over $80K) alongside $5.8B in net inflows, making August the best month for US crypto ETF inflows in 2026.
  • Inflow momentum was led by Spot Bitcoin ETFs (+$3.5B) and Spot Ethereum ETFs (+$1.7B), while demand broadened across altcoins, including Solana ($177.2M), XRP ($174.6M), and Basket products ($131.8M).
  • August's record inflow month firmly turned 2026 YTD net flows positive to + $2.4B (reversing prior cumulative redemptions). Coupled with strong asset price appreciation, this highlights a decisive recovery in institutional sentiment and risk appetite across US capital markets.
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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
August 2026
August 31, 2026
Issuer AUM NNA Aug26 NNA 2026 21shares 3264.9 53.1 207.2 CoinShares 2606.4 25.8 188.3 WisdomTree 2011.2 20.8 197.9 Bitwise 1657.0 59.8 109.6 BlackRock 1387.5 89.2 657.5 Vaneck 933.2 16.2 32.3 Virtune 345.6 4.9 47.3 Fidelity 337.1 16.3 45.0 Invesco 288.4 2.8 -15.0 DWS 98.9 -1.5 20.1 nxtAssets 65.1 1.9 26.7 Amina 57.8 0.0 -10.0 Hashdex 53.1 -0.9 -5.8 DDA 32.4 -0.4 0.2 HANetf 12.6 0.0 9.0 Global X 7.3 0.1 0.5 FiCAS 5.5 0.0 0.0 Amundi 3.8 0.8 2.2 Fineqia 1.5 0.0 0.3 Issuance Swiss 0.8 0.0 0.0 Bitcoin Capital 0.7 0.0 0.0 Grand Total 13170.9 288.9 1513.3
Underlying AUM NNA Aug26 NNA 2026 Bitcoin 8185.5 219.9 1386.5 Ethereum 1669.9 28.7 223.5 Solana 1117.4 14.4 -60.9 XRP 829.8 3.8 -108.7 Basket 639.7 1.5 -13.0 Stellar 78.6 0.8 3.4 SUI 76.9 1.4 9.1 Hype 68.5 18.9 14.4 Chainlink 61.5 6.8 5.6 Lido Staked ETH 57.6 0.1 14.6 Near 48.3 -0.2 2.5 Cardano 47.9 0.0 7.0 Cronos 33.4 0.0 0.1 Tron 29.4 0.1 -17.8 Litecoin 21.9 -0.2 0.9 Avalanche 19.2 0.4 1.1 Uniswap 16.1 -1.1 1.3 Polkadot 14.9 -0.3 3.3 BNB 14.8 0.1 -4.8 Equity 12.6 -5.5 10.7 Algorand 12.4 0.1 0.1 TON 12.3 0.0 2.4 Ondo 11.9 -3.6 7.2 XDC 9.6 0.1 0.2 Dogecoin 9.1 -1.2 -0.3 Polygon 8.1 0.1 0.5 Morpho 7.0 4.8 7.3 Bittensor 6.6 -0.3 3.5 Tezos 6.4 0.4 0.5 Bitcoin Cash 6.3 1.6 1.1 AAVE 6.0 -0.7 -3.0 Canton Coin 4.9 1.2 5.5 Celestia 4.3 -0.3 -2.9 Aptos 3.2 0.3 1.0 Other Underlyings* 18.6 -3.5 11.2 Grand Total 13170.9 288.9 1513.3
Month Net flows AUM Sep25 1304.5 18118.1 Oct25 467.7 17701.3 Nov25 -157.7 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 Jul26 61.3 10214.0 Aug26 288.9 13170.9
Exchange ADV Aug26 ADV 2026 Deutsche Börse Xetra 37.2 40.3 SIX Swiss Exchange 9.3 14.0 London Stock Exchange 6.0 6.1 Euronext Amsterdam 4.9 4.0 Euronext Paris 5.5 4.6 Nasdaq Stockholm 3.1 2.9 Borsa Italiana 1.7 1.5
Issuer AUM NNA Aug26 NNA 2026 BlackRock 71233.0 4589.6 2401.2 Grayscale 20646.5 266.1 -1173.6 Fidelity 15432.0 522.7 -2138.1 Bitwise 5743.4 350.8 730.6 21shares 3003.5 42.5 -266.2 ProShares 2909.3 -29.2 160.3 Volatility Shares 2848.1 -195.1 627.7 NEOS 1399.5 34.6 728.6 Vaneck 1366.6 -87.2 -20.4 Franklin Templeton 887.9 31.5 230.3 Morgan Stanley 676.7 113.9 591.9 CoinShares 470.9 -11.1 -1.5 Hashdex 441.5 161.6 285.4 Invesco 435.8 -15.5 -52.4 Canary 425.6 23.4 133.8 WisdomTree 171.2 -4.0 43.0 Rex-Osprey 156.9 -6.6 -42.2 Teucrium 147.8 7.6 103.6 Rex Shares 75.7 7.8 22.9 Simplify 36.0 -2.6 -5.5 T Rowe Price 21.5 1.4 17.4 GSR 11.1 0.0 8.1 Grand Total 128540.5 5802.3 2384.8
Underlying AUM NNA Aug26 NNA 2026 Bitcoin 104662.9 3461.3 -766.5 Ethereum 17245.5 1743.7 1121.8 XRP 1900.3 174.6 720.8 Solana 1847.1 177.2 634.8 Basket 1683.4 131.8 71.6 Hype 467.1 65.9 351.6 Zcash 354.9 21.8 21.8 Chainlink 173.5 20.1 89.0 SUI 63.0 2.4 45.5 Hedera 54.3 2.6 24.2 Avalanche 36.7 1.1 36.9 Dogecoin 27.9 -2.1 18.6 Canton Coin 7.7 2.1 8.7 Polkadot 7.6 0.0 1.9 Litecoin 6.3 0.1 2.7 BNB 2.4 -0.3 1.2 Grand Total 128540.5 5802.3 2384.8
Month Net flows AUM 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 Jul26 517.3 95850.5 Aug26 5802.3 128540.5
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