Bitcoin spot ETF anticipation fuels largest crypto fund inflows for two years: CoinShares
Crypto fund inflows at asset managers such as 21Shares, CoinShares, Bitwise, Grayscale and ProShares added $346 million last week, the largest jump since the bull market of late 2021, according to CoinShares’ latest report. Last week's addition nearly doubled the $176 million registered in the prior week, compounding a nine-week consecutive run and bringing year-to-date inflows to over $1.5 billion. The surge was fueled by anticipation of a U.S.-based spot bitcoin ETF, CoinShares.
Bitcoin investment products accounted for $312 million of the total inflows last week, while short-sellers "continue to capitulate," Butterfill added, with short bitcoin funds seeing a third week of outflows totaling just under $1 million and AUM falling over 60% since a peak in April. ETPs now account for 18% of total spot bitcoin trading volume, well above average, highlighting their growing popularity among investors seeking exposure to digital assets, Butterfill noted. Ether investment products added $34 million last week to a run totaling over $100 million. The four-week inflow streak has almost fully corrected outflows for the year, marking a decisive turn-around in sentiment, Butterfill said.
