CoinShares reported that global digital asset investments products experienced their fourth successive week of inflows. The total was $185 million. report.
According to the report, these inflows have pushed the May total up to $2 billion. The year-todate inflows are now at over $15 billion. The trading volume fell to $8 billion, down from $13 Billion the week before.
Bitcoin: US is leading
BTC investors’ interest remains positive Bitcoin Crypto investment flows are still being driven by the flagship digital asset. In the last week, $148 million worth of inflows were recorded for the digital flagship asset, while $3.5 million was lost on short BTC.
Grayscale GBTC’s $260m outflow was not enough to stop the US from maintaining its regional lead. The US remained in first place with $130m in inflows. BlackRock and Fidelity spot Bitcoin exchange-traded funds (ETFs) saw significant inflows amounting to $475 million during this period.
Switzerland’s second largest inflows for the year totaled $36 million. Canada recovered from previous outflows and contributed $25 million to inflows.
Hong Kong was able to reverse its trend of outflows, with modest inflows last week totaling $1.7 million.
Investors’ sentiment changes after Ethereum ETF is approved
The crypto products that are related to Ethereum These funds have experienced their second successive week of investment, as investors poured in $34.5 Million. financial instruments. The ETH experienced its largest inflows of $36 Million since March last week.
CoinShares attributes this turn-around to the Securities and Exchange Commission (SEC’s) decision to accept the 19b-4 submissions for several spot Ethereum ETFs. Before this approval, ETH was on a 10-week run of outflows totaling $200 million.
![Crypto ETP Flows](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717436098_695_US-leads-2-billion-May-crypto-inflow-while-Ethereum-ETF.jpg)
![Crypto ETP Flows](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/1717436098_695_US-leads-2-billion-May-crypto-inflow-while-Ethereum-ETF.jpg)
Bloomberg ETF Analyst James Seyffart disagrees with several experts who have said that Ethereum ETFs may begin trading in July. said There is not a definitive launch date because there are many factors that will affect the launch. financial The regulator is yet to approve this issuers’ S-1 filings.
Ethereum’s positive sentiment extended to other large-cap altcoins such as SolanaThe inflows were $5.8 Million. Other assets, such as Chainlink XRP Litecoin and Litecoin saw minor inflows less than one million dollars.
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Source: cryptoslate.com