Cryptocurrency market attracted record $ 2.7 billion in investments over the week

During the week of June 21−27, 2024, global cryptocurrency funds attracted a record $ 2.7 billion in investments. According to CoinShares, this is the eleventh consecutive week of positive capital inflows. Since the beginning of the year, total investments in such funds have reached $ 17.8 billion, which is almost equal to the figure for the whole of 2023 ($ 18.3 billion).

Bitcoin-based products BTC $118,551.34 Bitcoin -1.89% Market capitalization $2.36 trillion VOL. 24 hours $2.16 billion remain the main beneficiary of the week, accounting for $ 2.2 billion, or 83% of the total inflow. Ethereum funds attracted $ 429 million and $ 2.9 billion since the beginning of the year. Solana SOL $174.75 Binance-Peg SOL -2.78% Market capitalization $0.19 billion VOL. 24 hours $0.53 billion has much more modest figures — only $ 91 million since January.

The leader among specific products was the Bitcoin ETF from BlackRock (iShares), in which investors have already invested $ 17 billion over the year. The majority of the weekly capital gains came from funds registered in the United States ($ 2.65 billion), while Switzerland and Germany provided only $ 23 million and $ 19.8 million, respectively. At the same time, Canada, Sweden, Brazil, and Hong Kong saw a slight outflow.

Analysts attribute the steady investor interest to a combination of geopolitical instability and uncertainty about the monetary policies of leading countries.