Digital assets manager CoinShares says institutions poured two billion dollars into crypto products last month.
In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products reached $185 million in inflows last week.
“Digital asset investment products saw inflows for the 4th consecutive week totaling US $185 million, with May seeing US $2 billion inflows, pushing year-to-date inflows past the US $15 billion mark for the first time on record. Volumes were down for the week though, falling to US$8bn, relative to US $13 billion the week prior.”
The US region brought in $130 million in inflows while Switzerland and Canada saw inflows of $36 million and $25 million, a stark turnaround for Canada, which saw overall outflows last month.
With investor sentiment remaining bullish on Bitcoin (BTC), the crypto king raked in $148 million last week while short-BTC products saw outflows of $3.5 million.
Meanwhile, Ethereum (ETH) products brought in $33.5 million last week.
“This represents a turnaround in investor sentiment in an asset that had seen a 10-week run of outflows prior, totaling US $200 million. This positive news for Ethereum has also had an impact on Solana, which saw a further US $5.8 million inflow last week.”
Solana (SOL) enjoyed $5.8 million in inflows during the period, as Chainlink (LINK), XRP, Litecoin (LTC) and Cardano (ADA) saw inflows of $1 million, $0.8 million, $0.6 million and $0.3 million, respectively.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
