Cryptocurrency exchange-traded products (ETPs) in India witnessed a significant outflow of $240 million last week, as reported by digital asset manager CoinShares on April 7. This reversal of two consecutive weeks of inflows totaling $870 million resulted in total digital asset ETP holdings of around $133 billion. The outflows are believed to reflect investor caution due to global trade tariffs imposed by the United States, raising concerns about their impact on global economic growth, according to James Butterfill, CoinShares’ head of research. Bitcoin ETPs experienced the most substantial downturn, with $207 million in weekly outflows, leading to negative monthly flows for the first time this year, totaling $138 million in net outflows over the past 30 days. Despite this, Bitcoin ETPs have seen significant inflows year-to-date, amounting to $1.3 billion. Ether (ETH)-linked ETPs also saw $38 million in weekly outflows but maintained $279 million in year-to-date inflows. Grayscale Investments, a major crypto investment firm, led ETP outflows last week, with $95 million withdrawn from its products, contributing to year-to-date outflows of $1.4 billion, the highest among all ETP providers tracked by CoinShares. In contrast, iShares ETFs by BlackRock recorded $3.2 billion in year-to-date inflows despite $56 million in outflows last week. ProShares and ARK Invest are the only other major issuers with year-to-date inflows, amounting to $398 million and $146 million, respectively.