The application for a Bitcoin (BTC) exchange traded fund (ETF) or Exchange Traded Fund by Blackrock has not gone unnoticed. A Morningstar investment report shows that the IPO of the world’s largest wealth manager has led to significant capital inflows into European cryptocurrencies Exchange Traded Products (ETP).
European crypto funds are popular this summer
Morningstar’s investment report takes a look at the best and worst investments for the months of June and July. This shows that European investment funds in digital assets and blockchain technology are in high demand. The figures in the report show that investments in crypto-related investment products in Europe have risen sharply over the past two months.
The digital asset industry has benefited greatly from some notable developments in the crypto space as asset manager BlackRock applied to launch a Bitcoin fund.”
According to the report, the WisdomTree Blockchain UCITS ETF is the top-performing European stock exchange fund for the month of July with a substantial profit margin of 26%. Along with the Global
Investors are tired and disappointed in the Bitcoin ETF
European ETPs saw net inflows of €150 million in June, the best month since March 2022. In July, net inflows fell to €60 million. However, according to Morningstar data, the two consecutive months of positive net inflows followed an outflow of $100 million in May.
A similar study by CoinShares confirms that there have been significant inflows into European ETPs in recent months. However, this trend appears to be reversing in the final weeks of August. CoinShares research showed that a drop in the third week of August was likely a sign that investors were tired and disappointed. They are eagerly awaiting a decision from the US Securities and Exchange Commission on the Bitcoin ETF applications.