The run increases the total net inflows since July 1st to $3.2 billion.
The trading volumes of exchange-traded products also saw a significant surge, rising 45%.
According to the most recent data from CoinShares, global crypto investment products at asset managers saw net inflows of $1.35 billion last week, marking the third consecutive week of positive activity.
As optimistic sentiment persists, the run increases the total net inflows since July 1st to $3.2 billion, according to CoinShares Head of Research James Butterfill. The trading volumes of exchange-traded products also saw a significant surge, rising 45% from the previous week to $12.9 billion. This accounts for 22% of the total crypto market volumes.
Investors Optimistic
As expected, investment products based on Bitcoin attracted $1.27 billion in net inflows worldwide, while short-Bitcoin ETPs lost $1.9 million. According to Butterfill, this signifies “enduring positive sentiment since the April halving event.” And takes the net outflow of short Bitcoin to $44 million since March.
Almost $1.2 billion in net inflows were recorded last week by U.S. spot Bitcoin exchange-traded funds; the number for Friday’s inflow for Ark Invest’s ARKB ETF is still pending. At the time of writing, Bitcoin is trading at $67,015 as per data from CMC.
As an extra bonus, Butterfill said that Ethereum’s situation seems to have improved. With an additional $45 million in net inflows last week, Ethereum funds have now amassed $103 million, more than Solana’s $71 million, making it the altcoin-based investment product with the highest net inflows year-to-date.
On May 23, eight 19b-4 forms for spot Ethereum were authorized by the SEC. Having said that, trading cannot commence until the issuers’ S-1 registration statements become effective, which is expected to occur on Tuesday.
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