Digital Asset Investment Products See Fourth Consecutive Week of Inflows, Attracting $2 Billion in May
Digital asset investment products saw $185 million in inflows last week, marking the fourth consecutive week of positive investment trends.
In total, these products attracted $2 billion in inflows in May, propelling year-to-date inflows past the $15 billion mark, reaching an all-time high, according to a recent report from CoinShares.
Although the weekly volumes experienced a decline, dropping to $8 billion compared to the previous week’s $13 billion, the consistent inflows demonstrate the sustained interest in digital assets among investors.
The United States dominated the inflows, attracting a net total of $130 million.
However, incumbent ETF issuers faced outflows amounting to $260 million.
Switzerland witnessed its second-largest weekly inflows this year, amounting to $36 million, while Canada experienced a turnaround with inflows of $25 million, despite a net outflow of $39 million in May.
4th consecutive week of inflows for Digital Asset Investment Products, this time totalling $185m.
With May seeing $2bn inflows, the year-to-date inflows have passed the $15bn mark. pic.twitter.com/6D3CFRrWPX
— LondonCryptoClub (@LDNCryptoClub) June 3, 2024
Bitcoin remained a popular choice among investors, with inflows totaling $148 million.
Conversely, short-bitcoin products experienced outflows of $3.5 million, indicating that sentiment among ETF investors remains positive.
Ethereum saw a significant shift in investor sentiment, recording a second consecutive week of inflows.
This change followed the SEC’s approval of a spot-based ETF, scheduled for launch in July 2024.
Prior to this positive development, Ethereum had experienced ten consecutive weeks of outflows, amounting to $200 million.
The positive news surrounding Ethereum has also
Read more on cryptonews.com
