👀 Crypto Funds Receive $932 Million After U.S. Inflation Report
💵 Inflows into cryptocurrency investment products from May 11 to 17 amounted to $932 million, according to CoinShares.
🕯 Analysts stated that the inflows were an "immediate response" to the U.S. inflation data, with the last three trading days of the week accounting for 89% of the total volume.
💸 Bitcoin-related instruments saw $942 million in inflows compared to $144 million in the previous reporting period. Structures allowing short positions on the leading cryptocurrency received almost no inflows.
💵 Ethereum funds continue to experience bearish sentiment, with outflows totaling $23.3 million. CoinShares attributes this to uncertain prospects for the approval of spot ETH ETFs on May 23.
🗣️ Among altcoins, the most significant inflows were into Solana, Chainlink, and Cardano-based instruments: $4.9 million, $3.7 million, and $1.9 million, respectively.
