According to the Financial Times, flows into cryptocurrency-related exchange-traded products in Europe have increased since BlackRock filed an application for a Bitcoin ETF in the United States. Morningsta data showed that net inflows into cryptocurrency-related ETPs registered in Europe reached 150 million euros in June, the highest since March 2022.

A similar trend was seen globally, with inflows totaling $610 million (€560 million) in June and July, according to CoinShares. Before the news of BlackRock’s application, crypto ETPs globally had seen nine consecutive weeks of net outflows totaling $400 million. But after BlackRock’s announcement, outflows were offset by inflows.