After four consecutive weeks of negative net flows, crypto investment products are breathing again. According to the latest report from CoinShares, last week saw a net capital inflow of $130 billion. This rise was mainly driven by Spot Bitcoin ETFs, despite a constant decline in volumes.
In fact, a significant drop in volumes on ETPs has been recorded, which currently represent around 22% of trading compared to 31% last month.
Despite this, the Spot Bitcoin ETFs shine thanks to the collapse of GBTC outflows, the lowest since the start of trading (171 million dollars in one week). A smaller contribution comes from Hong Kong ETFs, where inflows continue albeit downsized compared to the first record week.
Investors' eyes are focused on the Fed's decisions regarding new interest rates which will affect all markets for better or worse.
Meanwhile, a new Form F13 filed with the SEC revealed that JPMorgan, one of the largest banks in the world, is exposed to Bitcoin by approximately $760k via several Spot BTC ETFs. In fact, several institutional managers had to communicate their holdings to the regulatory agency, thus revealing who took advantage of the new BTC ETF market. Also among the ranks are Wells Fargo with approximately $120k exposure via GBTC.
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