Crypto Investment Products See Strong Inflows in Early July😯😯😯😯😯😯❗❗❗❗❗
Crypto investment products saw a significant surge in inflows in early July, with a total of $441 million invested across various asset managers. This marks a turnaround from the previous three weeks of outflows. Bitcoin investment products led the way, accounting for 90% of the inflows, while altcoin-based funds, such as Solana and Ethereum, also saw notable investments.
The strong inflows suggest that investors are viewing recent price dips as buying opportunities. In particular, Solana-based products attracted $16 million in net inflows, which may be attributed to the recent filings for a spot Solana ETF. Meanwhile, Ethereum saw a positive shift in sentiment with $10 million in net inflows, despite experiencing net outflows year-to-date.
US spot Bitcoin ETFs were at the forefront of the inflows, contributing $238.4 million, while Bitcoin funds in Hong Kong, Switzerland, and Canada also saw significant investments. However, German-based funds experienced net outflows of $23 million, likely due to the government's asset sales.
Despite the strong inflows, trading volumes across crypto exchange-traded products remained below average, generating only $7.9 billion last week. Overall, the surge in inflows suggests a renewed interest in crypto investment products, particularly in Bitcoin and altcoin-based funds.
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