Bitcoin, Ethereum and Other Crypto Funds Garner $767 Million in Just 6 Weeks
Crypto investment products received a fresh injection of $261 million last week, marking a six-week period of positive inflows that rivals the growth seen last year, as per CoinShares’ latest crypto fund report.
CoinShares Head of Research, James Butterfill, stated that while the inflows seen in June were similar in magnitude, they did not last for a sustained period of six weeks like the current inflows. This streak of inflows is the longest since early 2022.
Institutions have contributed $767 million to digital asset investment products since the streak of inflows emerged, with a $261 million increase over the past week.
In 2022, investment products with exposure to Bitcoin, Ethereum, and Solana saw inflows of $736 million.
So far this year, institutions have contributed a total of $847 million, according to CoinShares.
The inflows of $261 million last week coincided with Bitcoin’s climb to $35,000 in anticipation of a spot Bitcoin ETF. The previous week also saw inflows of $326 million.
Bitcoin received the largest share of weekly inflows at $229 million, followed by Ethereum at $17.5 million, and Solana at $11 million. Ripple (XRP) and Cardano saw flows of $200,000 and $500,000, respectively.
CoinShares reported that U.S. investors are starting to participate, with an allocation of $157 million last week, making them the most active group among all regions. So far this year, U.S. investors have contributed $493 million.
Germany saw an increase in annual flows of $301 million by $63 million, and Swiss investors added $36 million to their total of $255 million. Meanwhile, outflows in Sweden increased from $2.6 million to $94 million annually.
Although Ethereum has seen outflows of $107 million this year, it experienced notable inflows last week, with a fresh $17.5 million. This was the highest pace of inflows for Ethereum since August of last year.
Edited by Liam Kelly.
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