Crypto investors injected $3.2 billion over three weeks, with $1.35 billion last week alone. Most of the funds flowed into ETFs, boosting crypto-backed funds by 45% in weekly volume.
Bitcoin products in the U.S. led the surge, absorbing $1.24 billion between July 15 and July 19. Spot Bitcoin ETFs on Wall Street saw net inflows for 11 straight days before last week’s increase. Products from BlackRock and Grayscale now hold over $60 billion in assets and $17 billion in net inflows since January.
Ethereum products are gaining traction as the SEC is expected to approve spot ETH ETFs soon. The NYSE Arca has already accepted listing and trading of Ethereum ETFs from Bitwise and Grayscale.
This development could pave the way for more digital asset ETFs, with VanEck filing for a spot Solana ETF. Combined ETFs featuring Bitcoin, Ethereum, and Solana might debut soon, according to ETFStore president Nate Geraci.
The increasing popularity of crypto ETFs marks a significant step towards mainstream adoption, offering investors diversified and regulated exposure to digital assets.
