Analysts at CoinShares report that the past week of June 17-23 was a record week in terms of inflows into various digital asset funds, according to the observation of cryptocurrency investment activity. And trading volumes of cryptocurrency exchange products are 170% higher than the 2023 average
Bitcoin was the main beneficiary of crypto-investments last week, accounting for about 94% of total receipts. In absolute terms, the inflow was about $188 million.
“We believe the renewed positive sentiment is due to recent announcements by major ETP issuers that have filed for physically-backed ETFs with the U.S. Securities and Exchange Commission. Total assets under management (AuM) are now over $37 billion, the highest since the collapse of the Three Arrows Capital fund,” CoinShares said in an expert opinion.
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Analysts CoinShares noted that the positive growth in the market’s investment preferences has barely touched altcoins. The largest inflow of funds was recorded in the direction of the Etherium network and amounted to about 0.1% of AuM or $7.8 million in absolute values.
Volatility Shares reported
that it is preparing to launch the 2x Bitcoin futures Bitcoin Strategy ETF (BITX), the main feature of which will be double leverage. This is the first product of its kind in the U.S.. On the eve of the event, the Securities and Exchange Commission received
five applications to launch bitcoin spot ETFs from BlackRock, Fidelity, Invesco, Wisdom Tree and Valkyrie.