Bitcoin and Ethereum Surge as $4.3 Billion Pours into Crypto ETFs in June
Benzinga1 year ago
1360

Bitcoin and Ethereum Surge as $4.3 Billion Pours into Crypto ETFs in June

Cryptocurrency
Bitcoin
Ethereum
ETFs
Digital Assets
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Summary:

  • $4.3 billion in inflows into crypto ETFs in the past 5 weeks

  • $2 billion in inflows in the first week of June

  • Bitcoin (BTC) leads the charge with $1.97 billion in inflows

  • Ethereum (ETH) sees its best week since March with $69 million in inflows

  • Interest rate cuts anticipation and weaker U.S. economic data drive inflows

The cryptocurrency market is experiencing a resurgence of interest, with digital asset investment products attracting a record $4.3 billion in inflows over the past five weeks, including $2 billion during the first week of June. Bitcoin (BTC) emerged as the clear favorite, raking in $1.97 billion in inflows, fueled by the approval of spot-based Bitcoin ETFs. Ethereum (ETH) also saw a strong week, with its best inflow performance since March at $69 million, mirroring positive sentiment surrounding Bitcoin. This surge in inflows is largely attributed to a weaker-than-expected U.S. economic data and anticipation of potential interest rate cuts, which historically favor riskier assets like cryptocurrencies.

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