Crypto Funds See $2B Inflows; Bitcoin Remains Primary Focus

Published: Jun 10, 2024
Written By:
Vignesh Karunanidhi
Milk Road Writer

Crypto investment products enjoyed a total of $2 billion in inflows in the last week, according to a recent report by CoinShares. This latest inflow indicates the fifth consecutive week of positive sentiment.

The continuous inflow also brings the total inflows over this period to $4.3 billion. The spike in inflow has also led to a 55% increase in trading volumes for exchange-traded products (ETPs). The trading volume has peaked and reached $12.8 billion for the week.

Key points:

  • Crypto investment products enjoyed $2 billion in inflows in a single week.
  • The recent five-week run of inflows totals $4.3 billion.
  • Trading volumes in ETPs rose to $12.8 billion, a 55% increase from the previous week.
  • Total assets under management (AUM) surpass the $100 billion mark for the first time since March.
  • Bitcoin and Ethereum lead the inflows, with $1.97 billion and $69 million, respectively.

The positive inflow has pushed the total assets under management (AUM) for digital asset investment products above the $100 billion threshold for the first time since March 2024.

United States dominates crypto inflows for the week

The United States dominated the inflows with $1.98 billion. Also, Bitcoin enjoyed the highest inflows of $1.97 billion for the week. 

Ethereum also had a decent week, with inflows of $69 million. It was also ETH’s best performance since March.

CoinShares credited this surge in interest as likely due to the decision by the SEC to allow spot Ethereum ETFs. Fantom and XRP also enjoyed inflows of $1.4 million and $1.2 million, respectively.

Vignesh Karunanidhi

Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.