Bitcoin

Million

Rise

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 <p>Over the past two months, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-related exchange-traded product in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> have registered a sharp spike. Data from MorningStar revealed that <a rel="noopener noreferrer nofollow" title="ETP" href="https://thebittimes.com/tag/etp.html">ETP</a>s based in Europe noted a net inflow of €150 million [$162.1 million] in June. This turned out to be the best month for <a rel="noopener noreferrer nofollow" title="ETP" href="https://thebittimes.com/tag/etp.html">ETP</a>s since March 2022. July’s net in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> dropped to €60 million [$64.8 million]. Nevertheless, the two back-to-back months of positive <a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> came on the heels of the €100 million [$108 million] of out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> registered in May 2023. As far as the top-performing ETFs were concerned, the report highlighted,</p> 
 <p><strong>“Morningstar data reveals that it was WisdomTree Blockchain UCITS ETF USD Acc (WBLK) that topped the list of best performing ETPs in July, gaining 26% over the month. This was followed by another three ETFs exposed to digital assets and blockchain.”</strong></p> 
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   <img decoding="async" width="467" height="437" src="https://cdn.thebittimes.com/images/2023/08/23/9566048f0d7e4c37ec567f838898bdd0.webp" alt="" class="wp-image-108316" srcset="https://cdn.thebittimes.com/images/2023/08/23/9566048f0d7e4c37ec567f838898bdd0.webp 467w, https://cdn.thebittimes.com/images/2023/08/23/9566048f0d7e4c37ec567f838898bdd0.webp 300w, https://cdn.thebittimes.com/images/2023/08/23/9566048f0d7e4c37ec567f838898bdd0.webp 380w" sizes="(max-width: 467px) 100vw, 467px"> 
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     Source: MorningStar 
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 <p><strong>Also Read: FBI: Lazarus Group Might Sell $40 Million in Bitcoin</strong></p> 
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 <h3 class="wp-block-heading" id="h-blackrock-application-positively-impacted-etps-hanetf-executive">BlackRock Application Positively Impacted ETPs: HANetf Executive</h3> 
 <p>Data from CoinShares pointed out a similar global trend. In the period before BlackRock filed its spot bitcoin ETF application, outflows of up to $400 million were recorded in nine weeks up to June 15. The trend reversed only after the application was filed in mid-June.</p> 
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 <p>Talking to the Financial Times, Hector McNeil, the Founder and Co-Chief Executive Officer of HANetf, said that the largest asset manager’s application had had a “very positive” impact on Bitcoin <a rel="noopener noreferrer nofollow" title="ETP" href="https://thebittimes.com/tag/etp.html">ETP</a> <a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> and the price of the asset. He said that this was mainly because of the high anticipation of demand. McNeil added,</p> 
 <p><strong>“But most importantly, it has helped move the asset class into the mainstream, when the world’s largest asset manager, who has previously been negative, moves to raise their hand that they have changed their minds. Other asset managers have and will follow, as will more investor types.”</strong></p> 
 <p><strong>Also Read:&nbsp;South Korea: Cheongju to Seize Crypto From Tax Evaders</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>Blackrock</li> 
  <li>crypto</li> 
  <li>ETP</li> 
  <li>europe</li> 
 </ul> 
</div>

Europe: Crypto ETP Inflows Rise to ~$230 Million in June, July

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