Crypto inflows hit $2B in June, Ethereum sees best week since March with $69M

CoinShares believes this is due to "worse-than-expected macroeconomic performance in the US."

Investment vehicles in digital assets got off to a positive start in June, with almost all companies reporting an increase in inflows of funds, and the total volume of assets raised amounted to US$2 billion.

On June 10, CoinShares released its weekly financial activity report, noting that cryptocurrency investment products have raised more than $2 billion. The influx of funds in June brought total investment in digital asset products to $4.3 billion over five weeks, the company said.

In addition, the company reported that exchange-traded product (ETP) trading volumes rose to $12.8 billion in the first week of June, up 55% from the previous week.

Almost all ETP platforms have increased their investment volumes

In addition to overall inflows, CoinShares also highlighted that almost all of the leading companies offering cryptocurrency ETPs saw inflows in the first week of June. Company management views this trend as unusual and believes it may be a reaction to worsening macroeconomic indicators.

CoinShares reports this:

"We believe this change in sentiment is a direct response to weaker-than-expected macroeconomic indicators in the US, which has led to the expected cut in monetary policy rates."

The asset manager noted that due to positive price performance, total assets under management (AUM) crossed the US$100 billion mark for the first time since March 2024.

Among investment companies providing services for investing in digital assets, only Grayscale Investments and CoinShares XBT recorded an outflow of funds during the week.

Of those that saw the largest inflows, the iShares US exchange-traded fund (ETF) attracted the most funds at $948 million, while the Fidelity ETF came in second at $680 million.

Ethereum-Based Products Mark 'Best Week' of Fund Inflows

While Bitcoin BTC at $67,918 continued to dominate the ETF market with gains of $1.97 billion for the week, Ether ETH at $3,566 also set new records.

CoinShares said Ether-related investment products generated $69 million in flows for the week, the best since March.

CoinShares said Ether-related investment products generated $69 million in flows for the week, the best since March.

According to the company, this is likely a response to the recent approval of Ether spot ETFs. On May 23, the US Securities and Exchange Commission officially approved several spot ETH ETFs in the US.

Meanwhile, altcoin-based ETP saw little activity, with Fantom FTM $0.66 and XRP XRP $0.49 with proceeds of $1.4 million and $1.2 million respectively.