Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $2 billion in the first week of June, a fifth-consecutive week of positive inflows, according to CoinShares' latest report.
“Unusually, inflows were seen across almost all providers, with a continued slowdown in outflows from incumbents,” Butterfill said. “We believe this turn around in sentiment is a direct response to weaker than expected macro data in the U.S., bringing forward monetary policy rate cut expectations.”US and Bitcoin continue to dominate, while Ethereum has best inflow week since March
BlackRock’s IBIT spot Bitcoin ETF brought in nearly $1 billion last week alone, surpassing 300,000 BTC in AUM, having overtaken the AUM of Grayscale’s converted GBTC fund the week prior, and now accounting for over $21 billion in assets. “I don’t think people appreciate how ridiculous this is,” The ETF Store President Nate Geraci said. “Especially for a product that I was told nobody wanted. Now a $60 billion ETF category. In 5 months.”
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