Inflows into cryptocurrency investment products amounted to $441 million from June 29 to July 5, following an outflow of $30 million the previous week, according to calculations by CoinShares.
Analysts noted a resurgence in buying activity, triggered by weak prices amid concerns over coin sales by German authorities and the commencement of bitcoin distribution to Mt.Gox clients.
Trading volumes for ETP increased from $6.2 billion to a relatively modest $7.9 billion, partly due to reduced activity during the summer months.
Investors added $398 million to bitcoin-related instruments, compared to $10 million in the previous reporting period.
Clients contributed $0.5 million to structures allowing short positions on digital gold, after withdrawing $4.2 million earlier.
Analysts highlighted that 10% of all inflows were directed towards a broad range of altcoins, an atypical situation.
Specifically, investors poured $16 million into Solana-based products, with the year-to-date figure reaching $57 million, the best result among competitors.
Ethereum funds saw an inflow of $10 million after a $61 million outflow the previous week. The year-to-date dynamics remained negative (-$15 million).
Earlier in June, Bloomberg analyst Eric Balchunas suggested the launch of spot Ethereum ETFs on July 2. Reuters provided a similar forecast, with the agency’s data indicating that product approval by the Commission was expected on July 4.