Crypto funds post inflows for the second week running

Inflows into cryptocurrency investment products from 24 to 30 June totaled $124.7 million, versus $199.1 million a week earlier. The assessment comes from analysts at CoinShares.

Over the last two weeks the figure reached $334 million, roughly 1% of AUM.

Along with an improved price environment, assets under management of crypto funds rose to their highest level since June 2022, at $37 billion.

Trading activity totaled $2.3 billion, well above the year-to-date average of $1.5 billion.

Bitcoin products attracted $123 million ($187 million a week earlier).

Among structures that allow short exposure to the first cryptocurrency, investors pulled $0.9 million versus $4.9 million in the previous reporting period. Negative momentum extended for the tenth week in a row.

“Digital gold remained in investors’ focus. Related products attracted 98% of all inflows into the segment,” — the report said.

Ethereum funds posted inflows of $2.7 million versus $7.8 million in the previous reporting period.

In the remaining altcoins, mixed dynamics. Products based on Cardano, XRP and Litecoin attracted $0.9 million, $0.4 million and $0.3 million respectively. Outflows from funds based on a crypto basket totaled $1.8 million, from funds based on Solana — $0.8 million.

Earlier, the founder of the Eight trading platform, Michaël van de Poppe said the bull market had begun in bitcoin.

Earlier, MicroStrategy founder Michael Saylor predicted a multi-fold rise in digital gold thanks to regulation. In his view, the driver will be the actions of the SEC.