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Home»ADOPTION NEWS»Inflows into digital asset investment products break annual record: CoinShares
ADOPTION NEWS

Inflows into digital asset investment products break annual record: CoinShares

By Crypto FlexsMay 28, 20242 Mins Read
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Inflows into digital asset investment products break annual record: CoinShares
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Markets • May 28, 2024, 8:21 AM EDT

Posted 1 minute ago In ~

Even though it is May, the inflow of digital asset investment products continued for three consecutive weeks, with the cumulative inflow reaching an all-time high of $14.9 billion.

CoinShares noted in its latest weekly report that most inflows were into Bitcoin exchange-traded products. Last week, $1.01 billion flowed into these ETPs. “Despite recent price gains, the overall sentiment is turning positive,” the data suggests, according to CoinShares. “This is likely due to investors’ slightly dovish interpretation of the FOMC minutes and recent macro data.”

Ethereum ETH

-0.28%
Meanwhile, it’s expected to enjoy some recent, unexpected benefits. Ethereum exchange-traded fund approved in the U.S. — recorded inflows of $36 million in one week.

The general trend of rising cryptocurrency prices has led to total digital asset ETPs reaching $98.5 billion, CoinShares noted. At the same time, weekly ETP trading volume increased 28% to $13.6 billion.

As usual, flows were mainly concentrated in the U.S., with Grayscale seeing chronic outflows “decline sharply to just $15 million during the week.” There were notable inflows from Germany and Switzerland, but there was a larger outflow of $29 million from the Hong Kong spot Bitcoin ETF.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Adam is Editor-in-Chief for Europe, Middle East and Africa. He lives in Central Europe and is the editor-in-chief and podcast host at OKX Insights, the former research arm of cryptocurrency exchange OKX. Prior to that, he co-founded and served as Editor-in-Chief of BeInCrypto.com, growing it into one of the leading cryptocurrency media brands. He previously served as Editor-in-Chief of Bitcoinist.com. Before joining the blockchain and cryptocurrency industry, he worked at Looper.com, Grunge.com, and SVG.com. He tweets at @XBT002 and can be emailed at (email protected).
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