Cryptocurrency Investment Products See Continued Inflows Amid Market Gains

According to Cointelegraph, cryptocurrency investment products maintained their multi-week inflow streak last week, as Bitcoin approached new highs and Ether briefly surpassed $2,800 for the first time since February. Global crypto exchange-traded products (ETPs) recorded $1.9 billion in inflows for the trading week ending June 13, extending a nine-week streak to $12.9 billion, as reported by CoinShares on June 16. The recent inflows have propelled crypto ETPs to a new historic record of year-to-date inflows, reaching $13.2 billion, according to James Butterfill, CoinShares’ head of research. The total assets under management (AuM) in crypto ETPs increased to $179 billion, up from $175.9 billion the previous week. Bitcoin investment products rebounded after two weeks of minor outflows, leading the inflow chart last week with $1.3 billion. Short-Bitcoin products also saw modest inflows of $3.7 million, although their AuM remained relatively low at $96 million. Ether ETPs ranked second in inflows, continuing their positive trend with an additional $583 million last week. Butterfill noted that these inflows marked the largest gains for ETH products since February, including their strongest single-day inflows. Following a three-week period of outflows, XRP investment products experienced $11.8 million in inflows last week, while Sui products saw an additional $3.5 million in inflows. This ongoing trend of inflows highlights the growing interest and investment in cryptocurrency products as the market continues to evolve. Further updates will be provided as more information becomes available.