Crypto ETPs saw $199M inflow last week, the largest since July 2022 Crypto ETPs saw $199M inflow last week, the largest since July 2022
Bitcoin ETPs claimed $188 million or 94% of the total inflows, indicating the market has a bigger appetite for BTC than Ethereum.
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Updated: Jun. 26, 2023 at 2:27 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A string of exchange-traded fund (ETF) applications filed in the U.S. earlier this month spurred a positive sentiment in the market, pushing Bitcoin (BTC) price above $30,000. This strong sentiment also resulted in large amounts of funds flowing into crypto exchange-traded products (ETPs) last week.
Crypto ETPs saw inflows worth $199 million in the week of June 19, as per CoinShares data. These inflows came after nine consecutive weeks of outflows totaling over $400 million.
Most importantly, it is the largest single-week inflow into ETPs since July 2022, CoinShares noted. Additionally, at $37 billion, the total assets under management of ETPs also reached their highest since early June 2022.
Bitcoin ETPs attracted $188 million, or 94% of the total inflows last week. Short-Bitcoin, on the other hand, experienced outflows worth $4.9 million — the ninth consecutive week of outflows.
Ethereum (ETH) ETPs saw minor inflows compared to Bitcoin at $7.8 million. The comparatively trivial inflows indicate that the market has less appetite for ETH than BTC at present, CoinShares noted.
The market boost generated by the U.S. ETF applications did not have any significant impact on altcoin ETPs. XRP (XRP) and Solana (SOL) ETPs saw negligible inflows of $240,000 and $170,000, respectively. However, multi-asset ETPs saw inflows worth $8 million last week.
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Author 
Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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