- The total inflows to crypto products has exceeded $15 billion.
- Ethereum’s second weekly inflow was recorded.
CoinShares’ latest report on digital assets investment shows that the firm recorded an inflow of $185 million in total last week. This is the fourth week in a row where there has been inflows. report.
This was a decline of 82% from $1.05 Billion inflows recorded the week before, but it pushed the inflows for May to $2 Billion. The year-to date (YTD), inflows to cryptocurrency funds have now surpassed the $15 billion threshold.
Trading volumes decreased during the review week, according to digital asset investments. The total was $8 billion. This is a drop of 38% from the previous $13 billion. previous week.
CoinShares reported that the assets under management for cryptocurrency-based products reached $97 billion at the end of last week. It was a decline of 1.3% from the $98,43 billion reported the Previous week.
The U.S. accounted for the majority of flows to crypto funds last week. CoinShares reports:
“The majority of inflows were from the US, seeing a net US$130m, although incumbent ETF issuer outflows rose to US$260m. Switzerland saw its second largest week on inflows this year at US$36m, while Canada saw a turnaround with inflows of US$25m despite seeing a net outflow in May totaling US$39m.”
Luck shines upon Ethereum
Spot market trading has been approved by the U.S Securities and Exchange Commission since the SEC first accepted the applications. Ethereum [ETH] On 22nd May 2018, exchange-traded products (ETFs), including those from Grayscale Bitwise iShares VanEck Ark Invest Invesco Fidelity Franklin Templeton and VanEck Ark Invest have seen significant inflows.
The same week as last was reviewed. CoinShares reported that Ethereum-backed product inflows reached $34 million during the second week.
It represented 18% all the inflows that were recorded over this time period. The liquidity inflows into Ethereum last week pushed its YTD flows to $11million.
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CoinShares said:
“This represents a turnaround in investor sentiment in an asset that had seen a 10-week run of outflows prior, totaling US$200m.”
CoinShares discovered that the inflows of Ethereum last week impacted Solana [SOL] Due to their statistically significant correlation.
“This positive news for Ethereum has also had an impact on Solana, which saw a further US$5.8m inflow last week.”
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Source: ambcrypto.com