Crypto investments surged in June, with Ethereum having its best week since March, attracting $69 million in investments. Digital asset investment products kicked off the month on a positive note, with nearly all providers experiencing inflows totaling $2 billion.
On June 10, CoinShares released its weekly fund flows report, revealing that crypto investment products had amassed over $2 billion in inflows. This influx marked a significant uptick, bringing the total for the first five weeks of June to $4.3 billion.
CoinShares also noted a substantial increase in trading volumes for exchange-traded products (ETPs), which soared to $12.8 billion during the first week of June, marking a 55% surge compared to the previous week.
In addition to the overall inflows, CoinShares highlighted that nearly all providers of crypto ETPs experienced inflows during the first week of June. This trend was deemed unusual by the asset manager, suggesting it might be a reaction to weaker macroeconomic data. CoinShares stated, “We believe this shift in sentiment is directly tied to the weaker-than-expected macroeconomic data in the U.S., which has accelerated expectations for monetary policy rate cuts.”
The positive market performance also led to a rise in total assets under management (AUM) to over $100 billion, the first time surpassing this mark since March 2024.
Among digital asset investment product providers, only Grayscale Investments and CoinShares XBT experienced outflows for the week. In contrast, iShares ETF in the United States led in inflows, attracting $948 million, followed by Fidelity ETFs with $680 million.
While Bitcoin remained dominant in the ETF space with $1.97 billion for the week, Ether-based products also saw significant gains. CoinShares reported that Ether investment products attracted $69 million in total inflows for the week, marking their strongest performance since March.
The asset manager attributed this surge to the recent approval of spot Ether ETFs by the Securities and Exchange Commission on May 23, signaling growing investor interest in Ethereum.
Meanwhile, altcoin-based ETPs experienced relatively minor activity, with Fantom and XRP seeing inflows of $1.4 million and $1.2 million, respectively.
