Surging Demand Lifts Crypto ETF Trading To A Record Of $19 Billion Amid Price Drops
Summary
Crypto ETF products played a crucial role in the market's recovery after a recent crash, with total assets under management rebounding to $85 billion from a low of $75 billion. CoinShares' report showed record trading activity of $19 billion, with universal inflows across all regions. Ethereum saw significant inflows, reaching $155 million last week. Bitcoin experienced a turnaround with inflows of $13 million, while short crypto ETF products faced substantial outflows. Despite a 2% drop, Bitcoin is up 18% over the past seven days, trading at $58,640, and Ethereum has gained nearly 22%, trading at $2,660.
