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BTC$67927
ETH$2629
BNB$596
XRP$0.54
In the past week, total inflows into cryptocurrency investment products reached $1.35 billion, bringing the three-week total to $3.2 billion. Among these products, Bitcoin (BTC) investment vehicles dominated, followed by Ethereum (ETH), Solana (SOL), and multi-asset tools.
According to CoinShares’ report on digital asset fund flows, BTC-focused products attracted $1.27 billion in inflows over the past week, pushing the month-to-date inflows to over $3 billion and the year-to-date inflows to nearly $18.5 billion.
Meanwhile, Ethereum’s Ether (ETH) saw inflows of $45.3 million in the past week, with a month-to-date total of $128 million, bringing the year’s total just above $1 billion.
Solana stood out among other altcoins, with inflows of $9.6 million this week, significantly surpassing Litecoin-focused investment products ($2.2 million inflow), although trailing behind multi-asset investment products ($16.7 million inflow).
Other altcoins, including Binance Coin (BNB), XRP, Cardano (ADA), and Chainlink (LINK), saw inflows ranging from $400,000 to $700,000. CoinShares reported that exchange-traded product volumes increased by 45% compared to the previous month, but still declined by 22% compared to broader cryptocurrency market trading volumes.
It’s worth noting that CryptoGlobe’s report on CCData’s June 2024 exchange review highlighted several key trends in the digital asset market, including declining cryptocurrency trading volumes.
The report detailed that spot and derivative trading volumes on centralized exchanges have declined for the third consecutive month. In June, volumes dropped by 21.8%, reaching a total of $4.22 trillion. This decline follows the historical peak of $9.05 trillion set in March 2024.
Sentiment: Positive
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