The crypto sector saw $2B inflows in early June, and ETPs rose by 55%.
Ethereum products hit a record $69M inflows after ETF approval.
Total crypto AUM surpassed $100B for the first time since March 2024.
Digital assets experienced a robust start to June, as investment products in the cryptocurrency sector recorded substantial inflows, accumulating an impressive $2 billion. This surge marked a significant recovery, with trading volumes for exchange-traded products (ETPs) alone rising to $12.8 billion in the initial week, a 55% hike from the previous week.
Notably, nearly all ETP providers witnessed inflows, driving the total assets under management (AUM) beyond the $100 billion mark for the first time since March 2024. This influx of capital spans various providers, with iShares and Fidelity ETFs leading the pack, garnering $948 million and $680 million, respectively. Meanwhile, only Grayscale Investments and CoinShares XBT observed minor outflows during the same period.
Digital asset investment products saw inflows totalling US$2bn, bringing the latest 5-week run of inflows to US$4.3bn. #Bitcoin was again the main focus, with inflows of US$1.97bn for the week.Get more insights in our full report: https://t.co/Lv2PqX0Ltf pic.twitter.com/lWMDoq6LxA
— CoinShares (@CoinSharesCo) June 10, 2024
Ethereum Leads with Record Week
Ethereum-based products stood out with a record $69 million in inflows, the highest since March. This remarkable uptick follows the recent approval of several spot Ether ETFs by the Securities and Exchange Commission on May 23. Ether’s performance, in particular, underscores a broader trend of growing investor confidence in digital assets amidst shifting economic indicators.
Bitcoin, however, continues to hold a dominant position in the ETF landscape, amassing $1.97 billion in inflows for the same period.
Moreover, the broader altcoin market, including tokens like Fantom, also enjoyed modest inflows, contributing to the overall positive sentiment in the cryptocurrency sector. This dynamic indicates a responsive market that reacts swiftly to both macroeconomic developments and regulatory changes, setting a promising stage for the future of digital assets.
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The post Crypto Markets Rally: June Opens with $2 Billion Inflows, Ethereum Shines appeared first on Crypto News Land.
