Crypto inflows reach 2B in June, Ethereum sees best week since March at $69M
Digital asset investment products got off to a positive start in June, with almost all providers seeing revenue and recording total inflows of $2 billion.
On June 10, CoinShares published its weekly cash flow report, which highlighted that crypto investment products generated more than $2 billion in revenue. According to CoinShares, early June earnings brought the five-week total for digital asset products to $4.3 billion.
In addition, the asset manager said that the trading volume in the first week of June reached 12.8 billion dollars, which showed an increase of 55% compared to the previous week.
Almost all ETP providers have seen inbound.
In addition to general inflows, CoinShares highlighted that almost all crypto ETP providers saw outflows in the first week of June. The asset manager described the pattern as unusual and shared that it could be a response to weak macro data. CoinShares wrote:
“Emotionally, this shift is a direct response to weaker-than-expected macro data in the U.S., which we believe will lead to expectations of monetary policy easing.”
The asset manager added that positive price action pushed total assets under management (AUM) to exceed $100 billion for the first time since March 2024.
Among digital asset investment product providers, only Grayscale Investments and CoinShares XBT recorded outflows for the week.
Among those recording inflows, US-based iShares exchange-traded funds (ETFs) were the top earners at $948 million, followed by Fidelity ETFs at $680 million.
Related: Products traded on Bitcoin exchanges now hold more than 1 million BTC
Ethereum products see “best week” of earnings.
While Bitcoin (BTC) continued to dominate the ETP space for the week at $1.97 billion, Ether (ETH) based products also broke records. CoinShares reports that Ethereum investment products saw a total flow of $69 million for the week, their best record since March.
The asset manager believes this could be in response to the recent approval of Ether-based spot ETFs. On May 23rd, the Securities and Exchange Commission officially approved multiple positions of ETH ETFs in the US.
Meanwhile, altcoin-based ETPs saw minor moves, with Fantom (FTM) and XRP (XRP) posting $1.4 million and $1.2 million in revenue, respectively.
Magazine: Roaring Kitty's GME Shares Hit $1 Billion, BTC Gains Interest, and Other News: Hodler's Digest, June 2-8
