Crypto Funds See $1.2B Inflows Amid Market Volatility: CoinShares

Despite sharp price declines in major cryptocurrencies like Bitcoin and Ether, cryptocurrency investment products saw strong demand last week, attracting significant inflows.

According to a Monday report from CoinShares, global crypto exchange-traded products (ETPs) recorded $1.24 billion in inflows for the week ending Friday.

James Butterfill, CoinShares’ head of research, noted that crypto ETPs have continued to set new year-to-date (YTD) inflow records, reaching an all-time high of $15.1 billion.

However, total assets under management (AUM) for crypto ETPs dipped slightly, falling from $179 billion the previous week to $176.3 billion by week’s end.

Bitcoin ETPs saw $1.1 billion in inflows for the second straight week, even as Bitcoin’s price dropped from $108,800 on June 16 to $103,000, per CoinGecko data. Butterfill suggested that the sustained inflows amid price declines indicate investors are “buying the dip.”

Meanwhile, Ether ETPs extended their inflow streak to nine consecutive weeks, adding $124 million last week. This brings the total inflows for Ether products to $2.2 billion over this period.