The inflow of funds into cryptocurrency investment products from June 17 to June 23 amounted to $199.1 million (the maximum since July 2022) against an outflow of $5.1 million a week earlier. This assessment was given by CoinShares analysts.
The funds lost $423 million over the previous nine weeks.
The trading volume was 1.7 times higher than the average since the beginning of the year. The total AUM for all crypto products reached $37 billion, the highest since the collapse of Three Arrows Capital.
$187 million was allocated to bitcoin products (-$0.5 million a week earlier). From the structures that allow opening shorts on the first cryptocurrency, investors took $4.9 million against zero dynamics in the previous reporting period.
“We attribute the recovery in positive sentiment to well-known companies filing applications with the SEC to launch a spot Bitcoin ETF. The change in market conditions did not spread to altcoins,” the experts emphasized.
Ethereum funds recorded an inflow of $7.8 million compared to an outflow of $5 million in the previous reporting period.
Products based on XRP and Solana raised $0.24 million and $0.17 million, respectively. The inflow into funds based on a basket of cryptocurrencies amounted to $8.1 million (since the beginning of the year, the outflow decreased to $10 million).
Let us remind you that over the past week, the influx of funds into the Bitcoin futures ETF from ProShares amounted to the maximum since the beginning of the year, $65.3 million.
On June 20, the trading volume of the Bitcoin trust from Grayscale Investments jumped by 400%, from $16.1 million to $80 million.
Earlier, the founder of the Eight trading platform, Michael van de Poppe, announced the beginning of a bull market in the first cryptocurrency with a target of $40,000. #etf