Bitcoin ETP inflows up 192% in June, making up 98% of all crypto fund inflows last week

admin July 3, 2023

0 1 minute read

According to CoinShares, Bitcoin (BTC) exchange-traded products (ETPs) attracted more than 98% of all inflows into digital asset investment products last week. data is shown. Bitcoin ETPs saw inflows of $123 million last week, with total inflows across all crypto ETPs totaling $125 million.

Recent inflows into Bitcoin ETPs have seen year-to-date inflows reach $158 million. Till two weeks ago, Bitcoin ETP had a year-to-date net outflow of $171 million, up 192% in June. The timing of the recent flurry of Bitcoin ETF spot applications coincides with the sentiment reversal outlined in the report.

Inflows into digital asset investment products hit their highest level since July 2022 during the week of June 16. Total inflows into cryptocurrency ETPs over the past two weeks reached $334 million, of which 98% went into Bitcoin ETPs.

CoinShares noted that the inflows in the second week showed investors’ “continued bullishness”.US Spot Bitcoin Exchange-traded Fund (ETF) Approval Expected, Market Sentiment Turns Mainly Positive

BTC and Ethereum (ETH) prices surged 1.04% and 4.32% over the past week, driving crypto assets under management to $37 billion, the highest level since early June 2022. . Also, cryptocurrency ETP trading volume reached $2.3 billion. Last week, it surpassed the $1.5 billion weekly average since the beginning of the year.

Bitcoin short investment products saw $900,000 outflow in the 10th week as the cryptocurrency price surged. Short Bitcoin ETPs are the best performers in year-to-date inflows, with $60 million.

After Bitcoin, the Ethereum ETP attracted the majority of the inflows, with total weekly inflows reaching $2.7 million. Cardano (ADA), Polygon (MATIC), and XRP (XRP) ETPs saw modest inflows, while Solana and multi-asset ETPs saw modest outflows of $0.8 million and $1.8 million respectively. rice field.

Post-Bitcoin ETP inflows jumped 192% in June, accounting for 98% of all crypto inflows last week, first appearing on CryptoSlate.