Crypto Fund Inflows Reach $2B in May, Led by Bitcoin — CoinShares
📈 Big Money Flows in May
Crypto funds saw huge cash inflows in May reaching $2 billion for the month. The last week of May alone brought in $185 million, as shown in the latest CoinShares “Digital Asset Fund Flows” report from June 3.
💰 Monthly and Yearly Cash Influx
The report points out that digital asset funds keep growing, with May’s inflows pushing the year-to-date money coming in to over $15 billion. This is the fourth week in a row that digital asset funds have seen positive inflows.
🇺🇸 The United States Leads in Inflows
The United States had a big part in these inflows putting in $130 million out of the week’s total of $185 million. But the report also pointed out large outflows of $260 million from existing issuers in the U.S.
🚀 Bitcoin Takes the Lead in Weekly Inflows
Bitcoin (BTC) was the main reason for the weekly inflows pulling in $148 million in investment money. On the flip side short Bitcoin funds saw $3.5 million leave for the week adding up to $12.5 million in outflows for the month. This suggests Bitcoin investors feel optimistic.
📊 Ethereum Experiences a Positive Shift
Ethereum (ETH) saw a turnaround for the better, as $33.5 million flowed in over the week and $21.6 million came in month-to-date. This change in mood stems from the U.S. giving the green light to Ether exchange-traded funds (ETFs). In the weeks before big investors had pulled $200 million out of ETH exchange-traded products.
🌟 Money Pours into Solana
Solana (SOL) also had money coming in, with $5.8 million for the week ending May 31 pushing the monthly total up to $24.8 million.
📉 Multi-Asset Funds Fall Behind
On the flip side multi-asset funds didn’t do well in May. The last week saw $2.7 million leaving these funds adding up to $12.2 million in total outflows from multi-asset funds and products for the month.
Keep up with the newest shifts and patterns in the crypto market to make smart choices about where to put your money.
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