Digital asset investment products kicked off June with a bang as CoinShares reported its weekly fund flows, touting an overall inflow of $2 billion in this space. This impressive start leads to a five-week total of $4.3 billion for these digital asset products.
Moreover, trading volumes for exchange-traded products (ETPs) took a giant leap in the first week of June, surging to $12.8 billion. Compared to the previous week, this was a jump of 55%.
CoinShares revealed that almost all providers of crypto ETPs experienced inflows in the first week of June. This unusual trend could be in reaction to weaker macro data, pushing forward the expectations of monetary policy rate cuts.
The asset manager also confirmed a rise in total assets under management (AUM) above $100 billion, a first since March 2024. However, not all digital asset investment product providers enjoyed an inflow. Only Grayscale Investments and CoinShares XBT experienced outflows for that week. The most substantial inflows were recorded by iShares exchange-traded funds in the United States at $948 million, with Fidelity ETFs trailing at second place with $680 million inflow.
Meanwhile, Ethereum-focused products enjoyed their best week of inflow since March, recording a total of $69 million. CoinShares attributes this to the recent approval of Ether-based spot ETFs by the Securities and Exchange Commission. There were also minor activities for altcoins-based ETPs like Fantom and XRP, which saw inflows of $1.4 million and $1.2 million, respectively.