Capital inflows into digital asset investment products hit record year-to-date of $14.9 billion: CoinShares
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Even though it's only May, three consecutive weeks of capital inflows into digital asset investment products have pushed total cumulative capital inflows to a record this year of $14.9 billion.
CoinShares noted in its latest weekly report that most of these capital flows have flowed into Bitcoin exchange-traded products. Last week, $1.01 billion flowed into such ETPs. “Sentiment is turning positive despite recent price increases,” the data shows, according to CoinShares. “This may be due to investors interpreting the FOMC minutes and recent macroeconomic data as somewhat dovish.”
Meanwhile, ETH benefited from the recent and largely unexpected approval of Ethereum spot ETFs in the United States — attracting $36 million in inflows last week.
The overall bullish trend in crypto prices has pushed the total value of digital asset ETPs to $98.5 billion, CoinShares noted. At the same time, weekly ETP trading volume increased 28% to $13.6 billion.