June saw a strong start for digital asset investment products, with a total inflow of $2 billion across various providers.
CoinShares, in its weekly fund flows report on June 10, revealed that crypto investment products received over $2 billion in inflows. This marked a significant increase, bringing the five-week total to $4.3 billion. Additionally, trading volumes for exchange-traded products (ETPs) surged to $12.8 billion in the first week of June, a 55% rise from the previous week.
Interestingly, almost all providers of crypto ETPs experienced inflows during the first week of June, a trend that CoinShares described as unusual. They suggested that this influx may be a response to weaker macro data. This positive market activity led to the total assets under management (AUM) surpassing $100 billion for the first time since March 2024.
Among the various digital asset investment product providers, Grayscale Investments and CoinShares XBT were the only ones to record outflows for the week. On the other hand, iShares ETFs in the United States led the way with the most inflows, totaling $948 million, followed by Fidelity ETFs with $680 million.
Bitcoin continued to dominate the ETP space, with $1.97 billion in inflows for the week. Ethereum-based products also saw a surge, with a total inflow of $69 million – their best performance since March. CoinShares attributed this increase to the recent approval of Ether-based spot ETFs by the Securities and Exchange Commission in the U.S.
In contrast, altcoin-based ETPs saw minimal activity, with Fantom and XRP showing modest inflows of $1.4 million and $1.2 million, respectively.
Overall, the positive start to June for digital asset investment products reflects a growing interest in the crypto market, as investors seek to diversify their portfolios and capitalize on the potential for significant returns.