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
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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.
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