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News

European Cryptocurrency ETPs Experience Surging Inflows, Reaching Highest Level Since 2022

August 23, 2023 - Around 2 mins mins to read

Key Points:

  • European cryptocurrency-related exchange-traded products (ETPs) witness a substantial net inflow of 150 million euros in June, the highest level since March 2022, driven by increased market interest and the BlackRock Bitcoin ETF application.
  • The momentum extends globally, with cryptocurrency ETPs worldwide experiencing inflows of $610 million in June and July. BlackRock’s application reverses previous outflows, indicating a growing acceptance of cryptocurrencies as a legitimate asset class within traditional financial markets.
A notable surge in European cryptocurrency-related exchange-traded product (ETP) inflows has captured the attention of the financial world, signaling a renewed momentum in the sector. 
European Cryptocurrency ETPs Experience Surging Inflows, Reaching Highest Level Since 2022

Data from Morningstar reveals that June witnessed a remarkable net inflow of 150 million euros into cryptocurrency-related ETPs in Europe, marking the highest level since March 2022. This upward trajectory aligns with recent developments in the cryptocurrency investment landscape. The submission of a Bitcoin exchange-traded fund (ETF) application by BlackRock in the United States has been identified as a pivotal catalyst for this surge. 

The prospect of a regulated Bitcoin ETF has rekindled interest and prompted increased investor participation in the crypto market, as evidenced by the flow of funds into European cryptocurrency-related ETPs.

This trend is not limited to Europe alone. Globally, CoinShares reports that cryptocurrency ETPs experienced substantial inflows of $610 million (approximately €560 million) during both June and July. This comes on the heels of a nine-week period characterized by net outflows from cryptocurrency ETPs worldwide, totaling $400 million. However, the announcement of BlackRock’s Bitcoin ETF application reversed this trend, as inflows surged to offset the prior outflows.

The confluence of a well-established financial institution like BlackRock seeking regulatory approval for a Bitcoin ETF, coupled with heightened market interest, has spurred a renewed investor enthusiasm for crypto-related investment products. 

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

News

European Cryptocurrency ETPs Experience Surging Inflows, Reaching Highest Level Since 2022

Key Points:

  • European cryptocurrency-related exchange-traded products (ETPs) witness a substantial net inflow of 150 million euros in June, the highest level since March 2022, driven by increased market interest and the BlackRock Bitcoin ETF application.
  • The momentum extends globally, with cryptocurrency ETPs worldwide experiencing inflows of $610 million in June and July. BlackRock’s application reverses previous outflows, indicating a growing acceptance of cryptocurrencies as a legitimate asset class within traditional financial markets.
A notable surge in European cryptocurrency-related exchange-traded product (ETP) inflows has captured the attention of the financial world, signaling a renewed momentum in the sector. 
European Cryptocurrency ETPs Experience Surging Inflows, Reaching Highest Level Since 2022

Data from Morningstar reveals that June witnessed a remarkable net inflow of 150 million euros into cryptocurrency-related ETPs in Europe, marking the highest level since March 2022. This upward trajectory aligns with recent developments in the cryptocurrency investment landscape. The submission of a Bitcoin exchange-traded fund (ETF) application by BlackRock in the United States has been identified as a pivotal catalyst for this surge. 

The prospect of a regulated Bitcoin ETF has rekindled interest and prompted increased investor participation in the crypto market, as evidenced by the flow of funds into European cryptocurrency-related ETPs.

This trend is not limited to Europe alone. Globally, CoinShares reports that cryptocurrency ETPs experienced substantial inflows of $610 million (approximately €560 million) during both June and July. This comes on the heels of a nine-week period characterized by net outflows from cryptocurrency ETPs worldwide, totaling $400 million. However, the announcement of BlackRock’s Bitcoin ETF application reversed this trend, as inflows surged to offset the prior outflows.

The confluence of a well-established financial institution like BlackRock seeking regulatory approval for a Bitcoin ETF, coupled with heightened market interest, has spurred a renewed investor enthusiasm for crypto-related investment products. 

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

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