CoinShares reported that investments in European crypto funds (ETPs) have been steadily increasing over the course of the past three months.
In June, activity from institutional investors in the eurozone witnessed an uptick following BlackRock’s application to launch a Bitcoin-ETF spot crypto fund. Results from the first summer month revealed capital investments in ETP had surpassed the 150 million euro mark, marking the highest figure since March 2022, according to the Financial Times.
In July, investments in EU crypto funds totalled to 60 million euros, while the prior month saw outflows reach approximately 100 million euros from the same product.
James Butterfill, Head of Research at CoinShares, stated that if BlackRock succeeds in launching an ETF, it would help to “dispel doubts amongst investors looking at cryptocurrency, potentially resulting in new investments.”