As a seasoned crypto investor with a keen interest in digital asset investment products, I find the recent trend of inflows to be quite encouraging. With $2 billion in inflows in May alone and year-to-date inflows surpassing $15 billion, it’s clear that institutional investors are increasingly embracing this new asset class.
Over the past week, digital asset investment funds reportedly attracted over $185 million, marking their fourth successive week of gains. This brings the total inflows for the month of May to a remarkable $2 billion.
As a researcher studying the cryptocurrency market, I’ve observed that according to CoinShares, the inflow of funds into the market has exceeded $15 billion in year-to-date totals, reaching a new record high. However, it is important to note that weekly trading volumes have decreased from $13 billion to $8 billion.
The United States saw the largest investment inflows with a total of $130 million, despite the fact that other ETF issuers experienced outflows amounting to $260 million. Switzerland recorded its second-largest weekly investment inflow for the year, amounting to $36 million. Conversely, Canada’s trend was reversed with an inflow of $25 million following a net outflow of $39 million in May.
As a crypto investor, I’ve observed that Bitcoin (BTC) maintained its leading position with approximately $148 million flowing into it last week. On the other hand, short-Bitcoin products experienced outflows of around $3.5 million, reflecting optimistic attitudes among Exchange Traded Fund (ETF) investors towards BTC. Ethereum (ETH), too, enjoyed inflows for the second consecutive week after the SEC’s approval of a spot-based ETF scheduled to debut in July 2024. This significant shift comes following a ten-week streak of outflows totaling $200 million. The bullish trend for Ethereum also positively influenced Solana (SOL), resulting in inflows of about $5.8 million last week.
In contrast, there were withdrawals totaling $7.2 million from blockchain stocks last week, and a significant $516 million has been taken out so far this year. However, the larger picture shows that investments in digital assets continue to thrive.
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2024-06-03 17:53