Crypto Market Heats Up in June with $2B Inflows, Ethereum Breaks Records

Crypto investment products saw a significant turnaround in June, with inflows reaching $2 billion. This positive sentiment is attributed to weaker economic data in the U.S.

Bitcoin (BTC) products led the charge with $1.97 billion in inflows, while Ethereum (ETH)-based products had their best week since March with $69 million. The approval of Ether-based spot ETFs in the U.S. is likely a contributing factor.

Almost all ETP providers experienced inflows, including iShares ETFs ($948 million) and Fidelity ETFs ($680 million). Grayscale Investments and CoinShares XBT were the only exceptions with outflows.

Altcoins such as Fantom (FTM) and XRP (XRP) also saw modest inflows.