Ethereum

Bitcoin

Optimism

Spot

Raise

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Investors <a aria-label="poured $136 million (opens in a new tab)" href="https://blog.coinshares.com/volume-139-digital-asset-fund-flows-weekly-report-33b877f6baee" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">poured $136 million</a> into digital asset funds last week, of which $133 million was directed into Bitcoin-related products. These funds saw $470 million in <a href="https://tokenist.com/digital-asset-funds-see-125m-in-weekly-inflows-despite-secs-etf-stance/" rel="dofollow" class="deco-link">inflows over the past three weeks</a> after nine weeks of back-to-back net outflows.</p> 
<h3 id="bitcoin-funds-accounted-for-97-of-inflows-last-week">Bitcoin Funds Accounted for 97% of Inflows Last Week</h3> 
<p>Digital asset investment products saw $136 million in inflows last week, CoinShares noted in the new fund flows report. This is the third consecutive week of inflows for digital asset funds, with $470 million accumulated in net inflows over the three weeks.</p> 
<p>Unsurprisingly, Bitcoin-related funds were at the center of the positive investor sentiment, with inflows of $133 million last week, representing 97% of the total amount. Meanwhile, short-bitcoin investment products saw an 11th straight week of outflows, at $1.8 million, suggesting investors still favor the leading cryptocurrency over altcoins.</p> 
<p>Ethereum funds saw minor inflows of $2.9 million during the week, although the asset remains in a negative net flows position at -$63 million year-to-date. Still, short-Ethereum products experienced slight outflows of $0.3 million last week.</p> 
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<h3 id="spot-bitcoin-etf-filings-raise-investor-optimism">Spot Bitcoin ETF Filings Raise Investor Optimism</h3> 
<p>The last three weeks of positive inflows highlight the growing investor optimism around digital assets, offsetting the previous 9 consecutive weeks of outflows. The year-to-date fund flows are strong at $231 million.</p> 
<p>The improvements in investor sentiment <a href="https://tokenist.com/coinbase-up-3-8-as-bitcoin-nears-29000-amid-etf-hype/" rel="dofollow" class="deco-link">emerged</a> after BlackRock, the most significant asset manager in the world, <a href="https://tokenist.com/how-blackrocks-etf-application-has-already-changed-the-crypto-market/" rel="dofollow" class="deco-link">filed an application</a> to launch a spot Bitcoin exchange-traded fund (ETF) in mid-June. After the move, several well-known traditional finance (TradFi) institutions followed suit, including WisdomTree, Invesco, Valkyrie, and others.</p> 
<p>The string of applications significantly raised hopes that Bitcoin could become a mainstream pick among institutional investors, assuming their filings gain approval from the US Securities and Exchange Commission (SEC). <a href="https://www.wsj.com/articles/sec-says-spot-bitcoin-etf-filings-are-inadequate-390336e8?mod=latest_headlines" target="_blank" aria-label="The securities regulator said (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">The securities regulator said</a> BlackRock’s filing was inadequate, though the investment giant quickly updated the application with the required details and refiled.</p> 
<p>In a recent <a aria-label="interview with Fox Business (opens in a new tab)" href="https://www.foxbusiness.com/video/6330640643112" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">interview with Fox Business</a>, BlackRock CEO Larry Fink described Bitcoin as an “international asset” that could serve as a hedge against inflation and gold. He also said the “role of crypto is digitizing gold,” adding that BlackRock aims to make cryptocurrencies more democratized and cheaper for investors.</p> 
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<p><em><strong>What are your predictions for Bitcoin’s price if ETF applications get approved shortly? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/digital-asset-funds-see-third-consecutive-week-of-net-inflows/">Digital Asset Funds See Third Consecutive Week of Net Inflows</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Digital Asset Funds See Third Consecutive Week of Net Inflows

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