4 months ago
20 ARTICLE AD
US and Switzerland lead crypto inflow surge, with Ethereum's outlook brightening.
Crypto funds registered $185 million in inflows last week, amounting to $2 billion in May, and $15 billion in 2024. According to asset management firm CoinShares, trading volumes experienced a dip despite the positive influx, descending to $8 billion compared to $13 billion the previous week.
Bitcoin continued to attract investor confidence with inflows of $148 million, whereas short Bitcoin products faced outflows of $3.5 million, indicating a sustained positive sentiment among ETF investors.
Image: CoinSharesBuoyed by the SEC’s nod to a spot-based ETF set for a July 2024 launch, Ethereum enjoyed a second week of inflows, reversing a 10-week streak of outflows that amounted to $200 million. This upbeat shift for Ethereum also positively influenced Solana, which registered an additional $5.8 million in inflows.
Regionally, the US dominated the inflow landscape, contributing a net of $130 million. However, established ETF issuers experienced a spike in outflows, reaching $260 million. Switzerland celebrated its second-largest week of inflows for the year at $36 million, while Canada reversed its trend with inflows of $25 million, offsetting a cumulative outflow of $39 million in May.
In contrast to the direct investment gains in digital assets, blockchain equities faced challenges, with outflows of $7.2 million last week, contributing to a total of $516 million in outflows this year.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
