Bitcoin ETFs recorded the third largest daily capital inflow

In June, we witnessed a significant surge in investments in crypto products. As a result, they raised $2 billion amid expectations of a rate cut in the US.

In the last five weeks, the total inflows in these products amount to at $4.3 billion, and investor interest was mainly focused on Bitcoin , which accounted for $1.97 billion. Conversely, Bitcoin shorts experienced outflows for the third week in a row (about $5.3 million).

Ethereum also drew increased attention, logging its best week since March with a total of $69 million inflows. An upswing like this likely stems from the SEC's surprising decision to give green light for spot ETF .

While some of the other altcoins underperformed, Fantom и XRP stood out with inflows of $1.4 million and $1.2 million, respectively. The main inflow fee came from the US ($1.98 billion) last week alone.

This is the third largest daily inflow on record. The iShares Bitcoin ETF now surpasses the Grayscale Bitcoin Trust with $21 billion in assets under management. Nearby, Hong Kong reported more than $26 million in inflows last week. This significantly increased the year-to-date total of $326 million.

Trading volumes for crypto exchange-traded products (ETPs) reached $12.8 billion for the week, representing a 55% increase from the previous week. Not surprisingly, inflows were seen from almost all suppliers, while outflows from traditional firms declined sharply.