Despite significant price drops of major cryptocurrencies like Bitcoin and Ether, investors are actively investing in cryptocurrency-based exchange-traded products.
Inflow into Crypto ETPs
According to a June 23 report from CoinShares, global cryptocurrency exchange-traded products (ETPs) attracted $1.24 billion in net inflows during the trading week ending June 21. This increased the year-to-date inflows to a record-breaking $15.1 billion.
Interest in Bitcoin and Ether
Bitcoin investment products led the charge, attracting $1.1 billion in inflows last week, marking the second consecutive week of significant interest. However, BTC's price fell from $108,800 to $103,000. Ether-backed ETPs also maintained momentum, recording $124 million in inflows for the ninth straight week.
Market Trends and Forecasts
James Butterfill, head of research at CoinShares, attributed the persistent demand to "buy-the-dip" behavior. Despite market volatility, the data suggests that both institutional and retail investors remain confident in the long-term potential of cryptocurrencies.
In the face of current market volatility, investors continue to see opportunities, turning price drops into entry points rather than exit strategies.
