Crypto Funds Attract $2.7 Billion in Just One Week

From June 21 to June 27, cryptocurrency funds received inflows totaling $2.7 billion. This marks the eleventh consecutive week of capital inflow into these structures, according to a report by CoinShares.

Since the beginning of the year, these funds have collectively attracted $17.8 billion, edging closer to last year’s total of $18.3 billion at the end of June. The overall amount of assets in these instruments has reached $184.4 billion.

«We believe that this consistent demand from investors is driven by a combination of factors, primarily the increased geopolitical volatility and uncertainty regarding the direction of monetary policy,» stated James Butterfill, head of research at CoinShares.

For the week, Bitcoin products emerged as the primary beneficiaries of the inflow, accounting for $2.2 billion, or 83% of the total.

Ethereum-based instruments attracted $429 million, bringing their year-to-date total to $2.9 billion. In comparison, Solana has only garnered $91 million.

The weekly inflow was largely dominated by the Bitcoin ETF from BlackRock, which saw $1.5 billion in investment. This year, investors have contributed $17 billion to iShares.

Regionally, nearly all of the weekly inflow came from U.S.-registered products, amounting to $2.65 billion. Funds from Switzerland and Germany contributed modestly with $23 million and $19.8 million, respectively.

There was a slight outflow reported in Canada, Sweden, and Brazil, while Hong Kong has seen an outflow exceeding $132 million year-to-date.

It’s worth noting that the previous week, the total capital inflow into crypto funds was $1.24 billion.