Global digital asset investment products recorded their fourth consecutive week of inflows, totaling $185 million, according to the weekly CoinShares. report.
The report states that these inflows brought May's total to $2 billion, bringing inflows so far this year to more than $15 billion for the first time. However, trading volume fell to $8 billion from $13 billion the previous week.
bitcoin, US leads
Investor interest in btc remains largely positive as bitcoin continues to drive flows into crypto investment products. Over the past week, the flagship digital asset recorded inflows totaling $148 million, while btc shorts recorded outflows of $3.5 million.
Regionally, the United States maintained its lead with $130 million in inflows despite a $260 million outflow from Grayscale's GBTC. During the period, BlackRock and Fidelity's bitcoin spot ETFs saw significant inflows totaling $475 million.
Meanwhile, Switzerland recorded the second largest capital inflow of the year, totaling $36 million. Canada, recovering from the capital outflows of previous weeks, contributed $25 million in inflows despite a net monthly outflow of $39 million.
Surprisingly, Hong Kong has been able to curb its capital outflow trend, recording modest inflows of $1.7 million last week.
ethereum ETF Approval Changes Investor Sentiment
Meanwhile, ethereum-related crypto products have seen their second consecutive week of inflows, with investors pouring $34.5 million into these financial instruments. Last week, eth recorded its largest inflows of $36 million since March.
CoinShares attributed this change to the Securities and Exchange Commission's (SEC) decision to approve 19b-4 filings for several ethereum spot ETF products. Prior to this approval, eth was on a 10-week streak of outflows totaling $200 million.
Several experts have predicted that ethereum ETFs could begin trading in July, but Bloomberg ETF analyst James Seyffart said there is no definitive timeline for the launch because the financial regulator has yet to approve S-1 filings. of the issuers.
Meanwhile, positive sentiments in ethereum also expanded investments in other large-cap altcoins such as Solana, which recorded inflows of $5.8 million. Other assets such as Chainlink, XRP, and Litecoin recorded minor inflows of less than $1 million.
