A sequence of exchange-traded fund (ETF) functions filed within the US earlier this month boosted optimistic market sentiment, pushing Bitcoin (BTC) value above $30,000. This robust sentiment led to a big influx of funds into ETPs final week.

Crypto ETP noticed inflows price $199 million throughout the week of June 19, in accordance with information from CoinShares. These inflows got here after 9 consecutive weeks of outflows totaling over $400 million.

Most significantly, CoinShares famous that that is the biggest single-week influx into the ETP since July 2022. Moreover, whole ETP property beneath administration reached $37 billion, the very best since early June 2022.

Bitcoin ETP attracted $188 million final week, representing 94% of whole inflows. Bitcoin shorts, alternatively, noticed $4.9 million price of outflows, marking the ninth consecutive week of outflows.

The influx into the Ethereum (ETH) ETP was paltry in comparison with Bitcoin’s $7.8 million. CoinShares famous that the comparatively insignificant influx signifies that the market at the moment has much less demand for ETH than for BTC.

The market enhance generated by US ETF filings didn’t have a lot of an affect on altcoin ETPs. Inflows into the XRP (XRP) and Solana (SOL) ETPs had been negligible at $240,000 and $170,000 respectively. Nevertheless, multi-asset ETPs noticed inflows price $8 million final week.

The post-crypto ETP noticed inflows of $199 million final week, the biggest since July 2022 when it first appeared on currencyjournals.

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