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

Bitcoin (BTC) exchange-traded products (ETPs) attracted implicit 98% of each inflows to integer plus concern products past week, CoinShares data shows. Bitcoin ETPs saw inflows of $123 cardinal past week, portion the combined inflow to each crypto ETPs stood astatine $125 million.

The latest inflow to Bitcoin ETPs pushed the year-to-date inflows to $158 million. Until 2 weeks ago, Bitcoin ETPs had year-to-date nett outflows of $171 million, marking an summation of 192% successful June. The timing of the caller flurry of spot Bitcoin ETF filings aligns with the reversal successful sentiment outlined by the report.

Digital plus concern products saw their astir important inflow since July 2022 successful the week of June 16. The full inflow to crypto ETPs implicit the past 2 weeks amounts to $334 million, 98% of which went to Bitcoin ETPs.

CoinShares noted that the 2nd week of inflows indicates that capitalist “bullishness continues.” Market sentiment has chiefly turned affirmative arsenic it anticipates support of spot Bitcoin exchange-traded funds (ETFs) successful the U.S.

With BTC and Ethereum (ETH) prices up 1.04% and 4.32% implicit the past week, the assets nether absorption of crypto concern products roseate to $37 cardinal — the highest since aboriginal June 2022. Additionally, the trading measurement of crypto ETPs reached $2.3 cardinal past week, shooting past the year-to-date play mean of $1.5 billion.

With the boost successful crypto prices, short-bitcoin concern products saw the tenth week of outflows of $0.9 million. Short-bitcoin ETPs are the best-performing successful year-to-date inflows astatine $60 million.

Ethereum ETPs attracted astir of the inflows aft Bitcoin, with full play inflows pegged astatine $2.7 million. Cardano (ADA), Polygon (MATIC), and XRP (XRP) ETPs saw insignificant inflows, portion Solana and multi-asset ETPs saw flimsy outflows of $0.8 cardinal and $1.8 million, respectively.

The station Bitcoin ETP inflows up 192% successful June, making up 98% of each crypto money inflows past week appeared archetypal connected CryptoSlate.