Crypto funds recorded an influx of funds for the second week in a row

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

The inflow of funds into cryptocurrency investment products from June 24 to June 30 amounted to $124.7 million compared to $199.1 million a week earlier. This assessment was made by CoinShares analysts.

Over the past two weeks, the indicator has reached $334 million, which is equivalent to ~1% of AUM.

Together with the improvement in the price environment, the volume of assets under management of crypto funds reached the highest level since June 2022 of $37 billion.

Data: CoinShares.

Trading activity was $2.3 billion, well above the year-to-date average of $1.5 billion.

$123 million was sent to bitcoin products ($187 million a week earlier).

From the structures that allow opening shorts on the first cryptocurrency, investors took $0.9 million against $4.9 million in the previous reporting period. Negative dynamics continued for the tenth week in a row.

“Digital gold has remained the focus of investor attention. 98% of all receipts of funds in a segment were the share of the products connected with it”, the report says.

Ethereum funds recorded an inflow of $2.7 million versus $7.8 million in the previous reporting period.

In other altcoins, mixed dynamics was observed. Cardano, XRP, and Litecoin-based products raised $0.9 million, $0.4 million, and $0.3 million, respectively. The outflow from funds based on a basket of cryptocurrencies amounted to $1.8 million, from funds based on Solana – $0.9 million.

Data: CoinShares.

Recall that the founder of the Eight trading platform, Michael van de Poppe, announced the beginning of a bull market in bitcoin.

Earlier, the founder of MicroStrategy, Michael Saylor, predicted a multiple growth of digital gold due to regulation. In his opinion, the driver will be actions SEC.

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