Digital asset investment products had a strong start in June, with nearly all providers experiencing inflows and an overall inflow of $2 billion.
On June 10, CoinShares published its weekly fund flows report, highlighting that crypto investment products gathered over $2 billion in inflows.
This brought digital asset products’ five-week total to $4.3 billion.
Additionally, trading volumes for exchange-traded products (ETPs) soared to $12.8 billion for the first week of June, marking a 55% increase compared to the previous week.
CoinShares noted that almost all providers of crypto ETPs saw inflows in the first week of June, describing this pattern as unusual and suggesting it might be a response to weaker macroeconomic data.
CoinShares wrote, “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.”
They also mentioned that positive price action pushed the total assets under management (AUM) to exceed $100 billion for the first time since March 2024.
Among the digital asset investment product providers, only Grayscale Investments and CoinShares XBT recorded outflows for the week.
For those with inflows, the iShares exchange-traded fund (ETF) in the United States recorded the highest inflows with $948 million, followed by Fidelity ETFs with $680 million.
Bitcoin continued to lead the ETF space, with $1.97 billion in inflows for the week. Ether-based products also saw significant inflows, totaling $69 million, their best record since March.
CoinShares attributes this to the recent approval of spot Ether ETFs, noting, “This is likely a response to the recent approval of spot Ether ETFs.”
On May 23, the Securities and Exchange Commission officially approved several spot ETH ETFs in the United States.
Altcoin-based ETPs had minor activity, with Fantom and XRP showing inflows of $1.4 million and $1.2 million, respectively.
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