As Bitcoin trading approaches historical highs, Ethereum briefly broke through the $2,800 mark (the first time since February), and cryptocurrency investment products continued the trend of inflows for several weeks last week.
CoinShares reported on June 16 that during the trading week ending June 13, global cryptocurrency exchange-traded products (ETPs) recorded $1.9 billion in inflows, bringing the cumulative inflow over nine consecutive weeks to $12.9 billion.
James Butterfill, Head of Research at CoinShares, stated in the report that with the influx of new funds, the year-to-date (YTD) total inflow for crypto ETPs has reached $13.2 billion, setting a new historical record.
The assets under management (AuM) of crypto ETPs slightly increased from $175.9 billion last week to $179 billion.
After two weeks of slight outflows, Bitcoin investment products rebounded strongly, leading the way with an inflow of $1.3 billion last week. Short Bitcoin products also recorded a small inflow of $3.7 million, although their assets under management remain at a low level of $96 million.
Ethereum (ETH) ETP ranked second in inflows, continuing its positive growth trend last week with an additional $583 million in funds. Butterfill noted that this marks the largest growth for ETH products since February and also set a new record for daily inflows.
After three weeks of consecutive outflows, Ripple (XRP) investment products reversed the trend last week, attracting $11.8 million in inflows, while Sui (SUI) products further received an injection of $3.5 million.
Related: Metaplanet's Bitcoin (BTC) holdings reach 10,000, surpassing Coinbase
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Original: “Crypto funds absorb $1.9 billion in inflows, Bitcoin (BTC) rebounds to break $110,000”
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