FacebookTwitterLinkedInTelegramCopy LinkEmail

Crypto Investment Products See $2 Billion Inflows in the First Week of June

Crypto Investment Products See $2 Billion Inflows in the First Week of June

Recent data from CoinShares indicates that global crypto investment products managed by firms like Ark Invest, Bitwise, and others, saw significant net inflows totaling $2 billion in the first week of June.

This marks the fifth consecutive week of positive inflows, matching the total for the entire month of May.

James Butterfill, Head of Research at CoinShares, noted the unusual trend of inflows across various providers amidst a slowdown in outflows from established players.

The U.S. market led the influx with $1.98 billion, attributed partly to a record streak in spot Bitcoin ETFs. Notably, BlackRock’s IBIT Bitcoin ETF alone garnered nearly $1 billion last week, surpassing 300,000 BTC in AUM.

READ MORE: Senator Proposes Bill to Abolish Federal Reserve

Ethereum-based products also saw a surge in inflows, likely due to the SEC’s decision to allow spot Ethereum ETFs in the U.S.

Despite these inflows, Bitcoin’s price remained relatively stable, prompting analysts to speculate on other market dynamics driving price action.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.