Crypto funds received a record inflow in 11 months

Crypto market news, investments in cryptocurrencies
Crypto market news, investments in cryptocurrencies

The inflow of funds into cryptocurrency investment products from June 17 to 23 amounted to $199.1 million (the highest since July 2022) against an outflow of $5.1 million a week earlier. This assessment was made by CoinShares analysts.

The funds lost $423 million in the previous nine weeks.

The trading volume turned out to be 1.7 times higher than the average since the beginning of the year. Total AUM for all crypto products reached $37 billion – the highest since the collapse of Three Arrows Capital.

Data: CoinShares.

$187 million was sent 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 of positive sentiment to the filing of well-known companies in SEC applications for the launch of spot bitcoin-ETFs. The change in market conditions did not spread to altcoins”experts emphasized.

Ethereum funds recorded an inflow of $7.8 million against 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 to funds based on a basket of cryptocurrencies amounted to $8.1 million (since the beginning of the year, the outflow has decreased to $10 million).

Data: CoinShares.

Recall that over the past week, the influx of funds into the ProShares bitcoin futures ETF amounted to the maximum $65.3 million since the beginning of the year.

June 20 trade turnover Bitcoin trust from Grayscale Investments jumped 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 $40,000 target.

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