{"id":2393,"date":"2024-06-04T03:30:32","date_gmt":"2024-06-04T03:30:32","guid":{"rendered":"https:\/\/cryptd.in\/rising-tide-crypto-investment-products-see-185m-inflows-may-sets-new-record-at-2-billion\/"},"modified":"2024-06-04T03:30:32","modified_gmt":"2024-06-04T03:30:32","slug":"rising-tide-crypto-investment-products-see-185m-inflows-may-sets-new-record-at-2-billion","status":"publish","type":"post","link":"https:\/\/cryptd.in\/nb\/rising-tide-crypto-investment-products-see-185m-inflows-may-sets-new-record-at-2-billion\/","title":{"rendered":"Rising Tide: Crypto Investment Products See $185M Inflows, May Sets New Record At $2 Billion"},"content":{"rendered":"<p>The crypto market is showing signs of a bullish resurgence, with reports of an impressive $2 billion in inflows for May alone.\u00a0<\/p>\n<p>Alongside this positive trend, Ethereum (ETH) has seen a notable turnaround in investor sentiment as the long-awaited spot <a href=\"https:\/\/www.newsbtc.com\/news\/next-big-move-for-bitcoin-analysts-predict-a-potential-breakout-at-71500\/\" target=\"_blank\" rel=\"noopener\">exchange-traded funds<\/a> (ETFs) for the market\u2019s second-largest cryptocurrency received approval from the US regulators last week.\u00a0<\/p>\n<h2>Record-Breaking Month For Crypto Products<\/h2>\n<p>According to a recent <a href=\"https:\/\/etp.coinshares.com\/knowledge\/market-activity\/fund-flows-03-06-24\" target=\"_blank\" rel=\"noopener\">rapport <\/a>from research firm CoinShares, digital asset investment products consistently attracted inflows during the four weeks, amassing a total of $185 million.\u00a0<\/p>\n<p>May proved to be particularly fruitful, with inflows surpassing $2 billion. This achievement marks the first time on record that<a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/bollinger-bands-inventor-bitcoin-pullback\/\" target=\"_blank\" rel=\"noopener\"> year-to-date inflows<\/a> have exceeded the $15 billion mark, highlighting investors\u2019 growing interest in the crypto market.<\/p>\n<p>Most inflows originated from the United States, with a net inflow of $130 million. However, it is worth noting that ETF issuers experienced outflows amounting to $260 million.\u00a0<\/p>\n<p>Switzerland also witnessed a significant uptick in investor interest, recording its second-largest weekly inflow this year at $36 million. Meanwhile, Canada witnessed a positive turnaround, with inflows of $25 million, despite experiencing a <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-consolidates-3650\/\" target=\"_blank\" rel=\"noopener\">net outflow <\/a>of $39 million in May.<\/p>\n<h2>Ethereum Rebounds With $200M Inflows<\/h2>\n<p>Per the report, Bitcoin (BTC) continued to dominate the crypto market, attracting inflows totaling $148 million. Conversely, <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/crypto-analyst-bitcoin-79600-if-this-holds\/\" target=\"_blank\" rel=\"noopener\">short-Bitcoin products<\/a> witnessed another week of outflows, amounting to $3.5 million, suggesting that sentiment among ETF investors remains largely positive for the leading cryptocurrency.<\/p>\n<p>Ethereum, on the other hand, experienced a notable change in investor sentiment following the Securities and Exchange Commission\u2019s (SEC) approval of a spot-based ETF that is expected to launch in July 2024.\u00a0<\/p>\n<p>CoinShares notes that this approval marked a turning point for Ethereum, which had endured ten weeks of outflows totaling $200 million. Interestingly, the positive news for Ethereum had a ripple effect on <a href=\"https:\/\/www.newsbtc.com\/news\/is-polkadot-preparing-for-a-100-surge-and-spike-above-20\/\" target=\"_blank\" rel=\"noopener\">Solana <\/a>(SOL), which received an additional $5.8 million in inflows last week.<\/p>\n<p>While direct investments in crypto assets have been thriving, blockchain equities faced a different scenario. In the past week alone, blockchain equities witnessed outflows of $7.2 million.\u00a0<\/p>\n<p>The report notes that since the beginning of the year, the sector has suffered outflows totaling $516 million, reflecting a challenging period for blockchain-related stocks.<\/p>\n<p>At the time of writing, Ethereum has seen a 4% price drop in the last week, resulting in a trading price of $3,770. However, the second-largest cryptocurrency on the market still holds gains of 21%, as recorded in the 30 days.\u00a0<\/p>\n<p>Featured image from DALL-E, chart from TradingView.com <\/p>","protected":false},"excerpt":{"rendered":"<p>The crypto market is showing signs of a bullish resurgence, with reports of an impressive $2 billion in inflows for May alone.\u00a0 Alongside this positive trend, Ethereum (ETH) has seen a notable turnaround in investor sentiment as the long-awaited spot exchange-traded funds (ETFs) for the market\u2019s second-largest cryptocurrency received approval from the US regulators last [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2393","post","type-post","status-publish","format-standard","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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