Investment in Crypto ETP Reaches $1.24 Billion Amid Price Drop of Bitcoin and Ether

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by Giorgi Kostiuk

a year ago

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.

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