Crypto ETPs saw $199M inflow last week, the largest since July 2022

A drawstring of exchange-traded money (ETF) applications filed successful the U.S. earlier this period spurred a affirmative sentiment successful the market, pushing Bitcoin (BTC) terms supra $30,000. This beardown sentiment besides resulted successful ample amounts of funds flowing into crypto exchange-traded products (ETPs) past week.

Crypto ETPs saw inflows worthy $199 cardinal successful the week of June 19, arsenic per CoinShares data. These inflows came aft 9 consecutive weeks of outflows totaling implicit $400 million.

Most importantly, it is the largest single-week inflow into ETPs since July 2022, CoinShares noted. Additionally, astatine $37 billion, the full assets nether absorption of ETPs besides reached their highest since aboriginal June 2022.

Bitcoin ETPs attracted $188 million, oregon 94% of the full inflows past week. Short-Bitcoin, connected the different hand, experienced outflows worthy $4.9 cardinal — the ninth consecutive week of outflows.

Ethereum (ETH) ETPs saw insignificant inflows compared to Bitcoin astatine $7.8 million. The comparatively trivial inflows bespeak that the marketplace has little appetite for ETH than BTC astatine present, CoinShares noted.

The marketplace boost generated by the U.S. ETF applications did not person immoderate important interaction connected altcoin ETPs. XRP (XRP) and Solana (SOL) ETPs saw negligible inflows of $240,000 and $170,000, respectively. However, multi-asset ETPs saw inflows worthy $8 cardinal past week.

The station Crypto ETPs saw $199M inflow past week, the largest since July 2022 appeared archetypal connected CryptoSlate.