European crypto-related exchange-traded products witnessed increased net inflows in June and July, reversing three months of outflows.
European-domiciled ETP net inflows reached $162 million in June, their best month since March 2022.
Net positive inflows continued through July, but August has seen a downturn as investor fatigue over ETF disappointment sets in.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.European crypto-related exchange-traded products witnessed net inflows in June and July. The period of inflows reversed an almost three-month period of global ETP outflows.
ETPs based in Europe recorded net inflows of €150 million in June, their best month since March 2022. July's net inflows dipped to €60 million . However, the two consecutive months of positive net flows come after €100 million of outflows in May, according to data fromCoinShares data revealed an almost three-month period of ETP net outflows before BlackRock announced its spot bitcoin ETF application in mid-June.
In the seven days to Monday, Aug. 21, digital asset investment products saw outflows totaling $55 million, the report added."We believe this is in reaction to recent media highlighting that a decision by the U.S. Securities and Exchange Commission in allowing a U.S. spot-based ETF is not imminent," CoinShares analysts told The Block.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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