$XRP Crypto ETP Capital Flow Reversal! XRP Unexpectedly Leads, Bitcoin Continues to Bleed

**Capital Flow Shows Signs of Recovery**

After two consecutive weeks of over $1 billion in net outflows, crypto ETPs saw a slight inflow of $6 million last week, indicating initial market sentiment divergence. CoinShares data shows that despite a $146 million sell-off mid-week due to better-than-expected U.S. retail data, total assets under management (AUM) still increased slightly by 1.4% to $131 billion.

**Issuers Experience Polar Opposites**

BlackRock iShares led with a net inflow of $182 million, while institutions like Fidelity faced a $123 million capital withdrawal. Bitwise (+$24 million) and Europe’s 21Shares (+$37 million) emerged as the few winners, but U.S. issuers overall remained in the red for April. Notably, 21Shares is the only European institution to maintain positive inflows this month, accumulating $28 million.

**XRP Surges Unexpectedly**

Asset performance shows a clear divergence: XRP ETP attracted $37.7 million in a single week, becoming the biggest dark horse; Bitcoin, on the other hand, continued its downward trend with a net outflow of $6 million, totaling a loss of $894 million in April. However, looking at the year-to-date, Bitcoin ETP still leads with a net inflow of $541 million, followed closely by Ethereum ($215 million) and XRP ($214 million).