After three weeks of net outflows, global digital asset investment products returned to net inflows last week, adding $441 million.
Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $441 million in the first week of July, marking a turnaround following three weeks of net outflows, according to CoinShares' latest report.
VanEck and 21Shares both filed with the U.S. Securities and Exchange Commission for spot Solana ETF in the week prior, potentially providing a catalyst for the increased allocation. “Ethereum sentiment also seems to have turned, seeing $10 million inflows, but remains the only ETP to have seen net outflow YTD,” Butterfill added.U.S. spot Bitcoin exchange-traded funds again led last week, accounting for $238.4 million of the net inflows, according to The Block’s data dashboard.
Meanwhile, trading volumes across crypto exchange-traded products remained significantly below the $14 billion weekly average this year, generating just $7.9 million last week — reflecting a seasonal pattern of lower volumes in the summer months, Butterfill said. “This represents a 17% lower participation rate compared to the total market for trusted exchanges,” he added.
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