The surge of cash into ETPs corresponds with a fresh push higher in prices for prominent tokens.
A lot of banks and advisers have also initiated providing these ETPs as part of broader portfolios, which has aided in opening a new tap of capital.
As per the reports, global exchange-traded products associated with crypto dragged in around $2.2 billion in net inflows in the past week, a leap that signalled the strongest weekly shift since October last year.
Bitcoin-aimed funds accumulated the lion’s share, and Ether, along with some other altcoin products, also witnessed fresh capital enter. As per CoinShares, Bitcoin-associated products accounted for most of the inflows, and Ether-associated ETPs also got a handful of new capital.
A lot of investors viewed these products as a swifter way to have exposure to crypto without taking possession of the coins directly. The pattern highlights a surging comfort among big traders and funds with exchange-traded wrappers.
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