Crypto investment products saw $1.4 billion in net inflows last week: CoinShares

📆 15/07/2024 07:29 a. m.
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While Bitcoin products dominated, Ethereum funds also had a strong week, adding $72 million, likely in anticipation of a spot ETF launch.

Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $1.44 billion last week, according to CoinShares' latest report.

Unsurprisingly, Bitcoin-based funds dominated with $1.35 billion in net inflows, while short-Bitcoin products saw the largest weekly net outflows since April, totaling $8.6 million. U.S. spot bitcoin exchange-traded funds brought in $1.05 billion alone last week amid a six-day positive streak as total net inflows since launching in January reached a record $15.8 billion.

The Securities and Exchange Commission’s approved eight 19b-4 forms for spot Ethereum ETFs from BlackRock, Fidelity, Bitwise, VanEck, Ark Invest, Invesco, Franklin Templeton and Grayscale on May 23.

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