European crypto ETPs experience net inflows in June and July
European crypto-related exchange-traded products (ETPs) saw net inflows in June and July, reversing a three-month period of outflows. In June, ETPs in Europe recorded net inflows of €150 million ($162 million), their best month since March 2022. July’s net inflows decreased to €60 million ($64.92 million). These positive net flows follow €100 million ($108 million) of outflows in May.
Main breakdown of key points:
– European crypto ETPs experienced net inflows of €150 million in June and €60 million in July.
– These inflows come after a three-month period of outflows and the announcement of BlackRock’s spot bitcoin ETF application in mid-June.
– June and July also saw global net inflows into crypto ETPs totaling €560 million.
– However, there has been a downturn in the third week of August, possibly due to investor disappointment and fatigue as the SEC spot bitcoin ETF decision is still pending.
– In the seven days leading up to August 21, digital asset investment products saw outflows of $55 million.
Hot Take:
The recent net inflows into European crypto ETPs indicate renewed interest and confidence in the market. However, the downturn in August suggests that investors are becoming impatient with the delay in the SEC’s decision regarding the spot bitcoin ETF. This highlights the impact of regulatory uncertainty on investor behavior. Despite the temporary setback, the overall trend of net inflows demonstrates the growing acceptance and adoption of cryptocurrencies in the investment space.
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