Cryptocurrency Investment Products continued to attract investors’ interest last week despite major crypto assets such as the prominent price drops in Bitcoin and Ether Post.
Global Crypto Exchange-Traded Products (ETPS) recorded an influx of $1.24 billion for the trading week, which closes Friday, Coinshares reported Monday.
The latest influx has led Crypto ETPS to break the year-to-date intrusion (YTD) influx record, continuing to set a new historic high of $15.1 billion, according to James Butterfill, Coinshares’ head of research.
Crypto ETPS’ managed assets (AUM) won up to $176.3 billion, up from $175.9 billion last week.
Bitcoin has been leading ETP inflows for two consecutive weeks
Bitcoin (BTC) ETP saw a $1.1 billion inflow for the second consecutive week, despite BTC prices falling from around $108,800 on June 16th to $108,800 by the weekend.
Despite falling spot prices, the resistance growth of Bitcoin ETP dynamics shows investors are buying weaknesses, suggests Coinshare Butafil.
“This sentiment was further supported by a small leak from short Bitcoin products, totaling $1.4 million,” he added.
Crypto Fear & Greed Index moves to “fear” for a short time
Coinshares’ new Crypto ETP report follows some notable adjustments from the Crypto Fear & Greed Index. On Monday, the index recovered slightly to “neutral.”
Crypto ETP activity remained strong last week, but ETP sentiment cooled later in the week. This probably happened due to new reports of US public holidays and US involvement in the Iranian conflict, Coinshares’ Batafil pointed out.
Related: Bitcoin’s weaknesses pass after immersion of under $100k”: Arthur Hayes
Despite escalating the Israeli-Iran conflict, ETPS became strong in the previous trading week, with ETPS logging an influx of $1.9 billion.
Magazine: History is Bitcoin Tap $330K, Crypto ETF Odds Hit 90%: Hodler’s Digest, June 15-21
