Bitcoin ETF

Bitcoin

James

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>CoinShares’ analyst James Butterfill revealed $2 billion entered crypto products last week.</li> 
 <li>The crypto markets are expecting rate cuts from the Fed.</li> 
</ul> 
CoinShares’ analyst James Butterfill’s latest crypto <a href="https://blog.coinshares.com/volume-186-digital-asset-fund-flows-weekly-report-dc1d43e0e207" rel="nofollow noopener" target="_blank">report</a> is out and the notes reveal that $2 billion entered the digital asset funds in the first week of June. as the markets expect to see rate cuts from the Fed. 
<a href="https://blog.coinshares.com/volume-186-digital-asset-fund-flows-weekly-report-dc1d43e0e207" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://miro.medium.com/v2/resize:fit:875/1*pCTOwhYdtW_9e2UW5pvvKA.png" alt="1*pCTOwhYdtW 9e2UW5pvvKA" width="875" height="880" title="Crypto Investment Products Saw $2B Last Week, With Bitcoin As Leader 16"></a> 
According to the report, this marks the recent 5-week run of inflows to $4.3 billion. Trading volumes in ETPs rose to $12.8 billion for the week which means 55% up from the week before. 
Bitcoin was in the spotlight according to the same data, and BTC saw $1.97 billion inflows. Ethereum saw its best week of inflows since March, totaling $69 million. This was most likely a reaction to the US SEC’s decision to allow Ethereum ETFs. 
<h2 id="in-depth-details-on-crypto-funds-flows">In-depth details on crypto funds flows</h2> 
The inflows in the crypto products over $2 billion were seen across almost all providers, and there was a continued slowdown in outflows from incumbents, according to the reports. 
CoinShares’s Butterfill notes that they believe that this turnaround in sentiment is a direct response to weaker-than-expected macro data in the US which brings forward monetary policy rate cut expectations. 
The report notes that positive price action saw total assets under management (AuM) rise above the $100 billion mark for the first time since March. 
<figure id="attachment_44497" aria-describedby="caption-attachment-44497" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/06/coin1.png"><img loading="lazy" decoding="async" class="wp-image-44497 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coin1.png" alt="CoinShares" width="877" height="550" title="Crypto Investment Products Saw $2B Last Week, With Bitcoin As Leader 17" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coin1.png 877w, https://crypto.ro/en/wp-content/uploads/2024/06/coin1-300x188.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coin1-768x482.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coin1-750x470.png 750w" sizes="(max-width: 877px) 100vw, 877px"></a>
 <figcaption id="caption-attachment-44497" class="wp-caption-text">
 CoinShares
 </figcaption>
</figure> 
In terms of regionality, the US saw most of the inflows totaling $1.98 billion last week. Hong Kong came next with $26 million. 
BlackRock’s iShares Bitcoin ETF surpassed Grayscale’s BTC ETF with $21 billion of AuM. 
<figure id="attachment_44498" aria-describedby="caption-attachment-44498" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/06/coin2.png"><img loading="lazy" decoding="async" class="wp-image-44498 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coin2.png" alt="CoinShares" width="855" height="501" title="Crypto Investment Products Saw $2B Last Week, With Bitcoin As Leader 18" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coin2.png 855w, https://crypto.ro/en/wp-content/uploads/2024/06/coin2-300x176.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coin2-768x450.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coin2-750x439.png 750w" sizes="(max-width: 855px) 100vw, 855px"></a>
 <figcaption id="caption-attachment-44498" class="wp-caption-text">
 CoinShares
 </figcaption>
</figure> 
Bitcoin was the main focus with $1.97 billion in inflows and short<a href="https://crypto.ro/en/news/bitcoin-etfs-recorded-131m-inflows-in-the-19th-consecutive-influx-day/"> Bitcoin</a> saw outflows for the third week in a row of $5.3 million. 
Ethereum recorded its best week from March, totaling $69 million as a result of the SEC’s approval of the ETH ETF listing. The launch of the crypto products is expected to take place in the US as soon as this month. 
<a href="https://crypto.ro/en/wp-content/uploads/2024/06/coin3.png"><img loading="lazy" decoding="async" class="alignnone wp-image-44499 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/coin3.png" alt="coin3" width="855" height="635" title="Crypto Investment Products Saw $2B Last Week, With Bitcoin As Leader 19" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/coin3.png 855w, https://crypto.ro/en/wp-content/uploads/2024/06/coin3-300x223.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/coin3-768x570.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/coin3-750x557.png 750w" sizes="(max-width: 855px) 100vw, 855px"></a> 
According to the same report, altcoins saw minor activity, with Fantom and XRP in the spotlight, seeing inflows of $1.4 million and $1.2 million respectively.

Crypto Investment Products Saw $2B Last Week, With Bitcoin As Leader

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