Digital asset manager CoinShares said institutions resumed investing in cryptocurrency products last week after a five-week break.
In its latest Digital Asset Fund Flows report, CoinShares found that digital asset investment products brought in inflows of $130 million last week after four weeks of outflows.
“Digital asset investment products saw inflows totaling $130 million for the first time in five weeks. However, exchange-traded product (ETP) volume continued to decline, hitting $8 billion per week compared to an average of $17 billion in April. These trading volumes highlight that ETP investors are currently less engaged in the cryptocurrency ecosystem, accounting for 22% of total trading volume on trusted exchanges globally, compared to 31% last month.”
Regionally, the United States led the inflows with $135 million. Switzerland and Hong Kong also saw inflows of $14 million and $19 million in cryptocurrency ETPs, while Canada and Germany saw outflows of $20 million and $15 million.
“Hong Kong had just US$19 million after record inflows last week, suggesting that most of the first week after the Bitcoin ETF launch was seed capital.”
Bitcoin (BTC) ETPs led the cryptocurrency offering, as usual, with inflows of $144 million. Solana (SOL), Polkadot (DOT), There was an outflow of $10,000.
“Low interaction between ETF (exchange-traded fund) issuers and U.S. regulators for spot Ethereum ETFs has heightened speculation that ETF approval may not be imminent, reflected in outflows totaling $14 million last week.”
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