European Crypto ETPs: Access, flows and volatility

European crypto exchange-traded products entered a new phase in 2025–26, shaped by shifting regulation, volatile markets, and changing investor access. Read Morningstar’s essential findings on the European crypto ETP landscape, including the: • Changes to retail access • Leading providers of Europe-domiciled crypto ETPs • Exposure offered by crypto ETPs • Peaks and dips in demand for crypto exchange-related products • Number of crypto ETP launches and closures in recent years • Performance of bitcoin and ether compared to other assets