Crypto fund inflows reached $130M for the week

For the first time in five weeks, digital asset investment products recorded inflows totaling $130 million.

 

Regionally, the largest inflows came from the US at $135 million, while Grayscale saw its lowest weekly outflows since January.

 

Weak engagement by US regulators with ETF issuer applications for a spot Ethereum ETF fueled rumors that ETF approval is not imminent, which was reflected in outflows totaling $14 million last week.

 

Digital asset investment inflows totaled $130 million for the first time in five weeks. Nevertheless, ETP volumes continue to decline, amounting to $8 billion for the week compared with an average of $17 billion in April. These volumes indicate that ETP investors are currently less engaged in the crypto ecosystem, accounting for 22% of total volumes on trusted global exchanges versus 31% last month.

 

Regionally, the largest inflows came from the US, totaling $135 million, while Grayscale recorded its lowest weekly outflows since January at $171 million year-to-date. Switzerland recorded inflows of $14 million.

 

In Hong Kong, after the previous week of record inflows, only $19 million was attracted, suggesting that most of the funds in the first week after the launch of Bitcoin ETFs came from seed capital. Canada and Germany continued to see outflows totaling $20 million and $15 million respectively, with their combined year-to-date outflows reaching $660 million.

 

Bitcoin inflows totaled $144 million, recovering what had been a weak month so far. Short Bitcoin ETPs saw outflows totaling $5.1 million, bringing outflows over the past 8 weeks to $18 million.

 

Weak engagement by US regulators with ETF issuer applications for a spot Ethereum ETF fueled rumors that ETF approval is not imminent, which was reflected in outflows totaling $14 million last week.

 

Read the full study here: blog.coinshares.com

 

Publication date on E-blog 05/13/2024 20:20