The cryptocurrency market has witnessed a bullish start to June, as digital asset investment products garnered substantial inflows totaling over $2 billion, according to the latest weekly report from CoinShares, a prominent asset manager in the digital space.
CoinShares’ report, published on June 10, reveals that the initial weeks of June saw a significant influx of capital into crypto investment products, contributing to a five-week total of $4.3 billion in inflows. Additionally, trading volumes for exchange-traded products (ETPs) surged to $12.8 billion during the first week of June, marking a remarkable 55% increase compared to the previous week.
Highlighting this surge in investment, CoinShares pointed out that nearly all providers of crypto ETPs experienced inflows during the period, a trend deemed unusual by analysts. CoinShares suggests that this trend might be a reaction to weaker macroeconomic data, with investors adjusting their expectations regarding monetary policy rate cuts accordingly. The asset manager stated:
“We believe this turnaround in sentiment is a direct response to weaker than expected macro data in the U.S., bringing forward monetary policy rate cut expectations.”
Moreover, the positive market sentiment propelled the total assets under management (AUM) of digital assets above the $100 billion mark for the first time since March 2024.latory developments.
