James Richardson
Institutional appetite for digital assets is on the rise. According to data from CoinShares, global crypto investment products managed by firms like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares pulled in $1.24 billion in net inflows last week. This marks the tenth consecutive week of strong inflows, bringing total inflows for the year to an impressive $15.1 billion โ a new annual record. Currently, these funds oversee $176 billion in combined assets.
โAlthough activity surged early in the week, it slowed down later due to the Juneteenth holiday and rising tensions between the U.S. and Iran,โ explained James Butterfill, Head of Research at CoinShares.
Bitcoin and Ethereum Stay Strong Despite Market Corrections
Even with a price drop, Bitcoin remained the top pick for institutional buyers. Last week, Bitcoin-focused products drew $1.1 billion in inflows, making it the second consecutive week of strong activity. Meanwhile, short Bitcoin products recorded a minor outflow of $1.4 million, suggesting investors were confident about recovery prospects.
U.S. spot Bitcoin ETFs led the charge, capturing roughly $1.02 billion in fresh capital.
Ethereum also kept its momentum, gaining $124 million in inflows and extending its streak to nine weeks โ the longest run of its kind since mid-2021. In total, Ethereum-focused products have accumulated $2.2 billion over that period. However, U.S. spot Ethereum ETFs accounted for just $40.3 million, indicating stronger interest from other markets.
Regional Insights: U.S. Dominance, Mixed Results in Other Areas
The United States topped the chart with $1.25 billion in inflows. Meanwhile, Canada and Germany followed with $20.9 million and $10.9 million, respectively. However, outflows were observed in Hong Kong ($32.6 million) and Switzerland ($7.7 million), suggesting regional variations in investor sentiment.
Market Outlook: Preparing for a Strong Rebound
Although Bitcoin ($101,660) and Ethereum ($2,255) have seen short-term corrections โ down 4.7% and 13.7% over the past week, respectively โ long-term sentiment remains bullish. According to BRN Lead Research Analyst Valentin Fournier, institutional support from areas like Texas and firms like Metaplanet is bolstering Bitcoinโs role as a strategic reserve.
โEven amid short-term market fluctuations, long-term institutional interest is rising sharply. We expect Bitcoin to remain resilient and Solana to potentially outperform as the market recovers. Meanwhile, Ethereum may regain its strength once volatility subsides,โ said Fournier.
