ETP sentiment cooled in the latter half of last week amid reports of US involvement in the Iran conflict.
Cryptocurrency investment products continued to attract strong investor interest last week despite major crypto assets like Bitcoin and Ether posting notable price drops.
Global crypto exchange-traded products (ETPs) recorded $1.24 billion of inflows for the trading week ending Friday, CoinShares reported on Monday.
According to James Butterfill, head of research at CoinShares, with the most recent inflows, crypto ETPs continued to break year-to-date (YTD) inflow records and reached a new historic high of $15.1 billion. Despite continued inflows, total assets under management (AUM) in crypto ETPs edged down from $179 billion in the previous week to $176.3 billion by the end of last week.
$BTC Bitcoin leads ETP inflows for a second consecutive week Bitcoin BTC $102,020
ETPs saw a second consecutive week of inflows, totalling $1.1 billion, despite BTC prices dropping from around $108,800 on June 16 to $103,000 by the end of the week, according to CoinGecko.
This sentiment was further supported by minor outflows from short-Bitcoin products, which totalled $1.4 million,” he added.
ETPs recorded their ninth consecutive week of inflows, netting $124 million last week and bringing the inflow run’s total to $2.2 billion.
