Net inflows into cryptocurrency investment products for 17–23 June amounted to $199.1 million (the highest since July 2022), versus outflows of $5.1 million a week earlier. The assessment was provided by CoinShares.
Over the previous nine weeks, funds shed $423 million.
Trading volume was 1.7 times above year-to-date averages. The total assets under management across all crypto products reached $37 billion — the highest since collapse of Three Arrows Capital.
Bitcoin-based products attracted $187 million (−$0.5 million week over week). Among the structures that allow shorting the first cryptocurrency, investors pulled $4.9 million, compared with no change in the previous reporting period.
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“We attribute the rebound in sentiment to filings by well-known companies with the SEC for launching a spot Bitcoin-ETF. The change in market conditions did not extend to altcoins”, the specialists said.
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Ethereum-based funds recorded inflows of $7.8 million versus outflows of $5 million in the previous period.
Funds based on XRP and Solana attracted $0.24 million and $0.17 million respectively. Inflow into funds based on a crypto basket totaled $8.1 million (year-to-date outflows narrowed to $10 million).
Earlier, inflows into the ProShares Bitcoin-ETF for the past week reached a year-to-date high of $65.3 million.
On June 20, trading turnover of the Bitcoin Trust from Grayscale Investments jumped 400%, from $16.1 million to $80 million.
Earlier, Michaël van de Poppe, founder of the trading platform Eight, said the bull market in the first cryptocurrency had begun, with a target of $40,000.