Crypto ETPs posted $ 1.2B flowing as the price prices decrease

Cryptocurrency investment products continue to attract the investor’s strong interests last week despite major crypto assets such as Bitcoin and Ether posting well -known price drops.

The Global Crypto Exchange-Traded Products (ETP) reported on Monday.

In the latest outflows, the Crypto ETPs continued to destroy the year-to-date (YTD) flow records (YTD), setting a new historic high of $ 15.1 billion, CoinShares’s research leader, James Butterfill, said.

Total ownership under Management (AUM) in Crypto ETPS also increased up to $ 176.3 billion from $ 175.9 billion last week.

Bitcoin led ETP Inflows for a second consecutive week

Bitcoin (Btc) ETPs saw a second consecutive week of flowing, worth $ 1.1 billion, despite BTC prices coming down from around $ 108,800 on June 16 to $ 103,000 at the end of the week, According to This coingecko.

The resistance to growing the Dynamic Bitcoin ETP despite the falling price of the area indicates that investors are buying weakness, the butterfill of Coinhares suggested.

“This emotion is further supported by minor outflows from short-bitcoin products, worth $ 1.4 million,” he added.

The Crypto Fear & Greed Index easily moved to “fear”

CoinShares’s new Crypto ETP report follows some well -known adjustments to Crypto Fear & Greed Indexsuggested that the sentiment on the market dropped to “fear” on Sunday after maintaining “greed” last month. On Monday, the index was slightly recovered from “neutral.”

Although the Crypto ETP activity remained strong last week, the ETP sentiment cooled over the last half of the week, likely due to the US Juneteenth holiday and emerging reports of US involvement in the Iran conflict, the Butterfill of Coinshares noted.

Related: Bitcoin ‘weakness’ will pass’ after sinking below $ 100k: Arthur Hayes

Both crypto ETPs and spots crypto prices held strong in the past week of trading, including ETPs post $ 1.9 billion of flows Despite the increase in Israeli-Iran conflict.