Fidelity's Jurrien Timmer says ETP flows indicate investors who exited Bitcoin in late 2025—including some who moved into gold—are returning to BTC. The shift points to renewed institutional interest and could affect liquidity and price dynamics.
Fidelity Digital Assets research head Chris Kuiper says visible buying from spot Bitcoin ETPs and corporates hasn’t produced decisive upside because other sellers are offsetting flows. He identifies clear pockets of supply that are keeping prices muted.

Crypto Exchange-Traded Products (ETPs) attracted $17.8 billion in inflows during the first half of 2025, marking a 2.7% decrease compared to the same period last year, according to CoinShares. Despite the slight decline, investor interest remains strong in the crypto investment space.