06.26.23
Digital Asset Inflows Highest in a Year After BlackRock’s Spot-Bitcoin ETF Filing
by: Sidhartha Shukla
Digital-asset investment products added $199 million last week, the biggest weekly inflows in nearly a year, as a flurry of applications for spot-Bitcoin exchange-traded funds in the United States sparks renewed interest in the space. The inflows are the highest since July 2022 and follow nine consecutive weeks of outflows, according to a report from CoinShares. About $187 million, or 94% of the total flows, went to Bitcoin. “We believe this renewed positive sentiment is due to recent announcements from high profile ETP issuers that have filed for physically backed ETFs,” CoinShares wrote in its report. On June 15, BlackRock filed for a U.S. spot Bitcoin ETF. Similar applications, including from Invesco and WisdomTree, followed soon after.
Read the full article on Bloomberg