Weekly inflows into crypto funds totaled $185 million for the last week in May, with monthly investment fund inflows reaching $2 billion.
Digital asset funds experienced a fourth consecutive week of inflows, according to the latest CoinShares Digital Asset Fund Flows report, released June 3. According to the report, digital asset funds saw $185 million in weekly inflows for the final week of May, with total monthly inflows totaling $2 billion—bringing the year-to-date inflow of capital to more than $15 billion.
The lion's share of weekly inflows came from the United States, accounting for $130 million of last week's inflows, though the report also noted incumbent issuer outflows of $260 million in the U.S.), with the decentralized currency claiming $148 million in investment flows. Additionally, short Bitcoin funds saw $3.5 million in weekly outflows, bringing the monthly total to $12.5 million in outflows. This may indicate that sentiment among Bitcoin investors remains bullish.
However, multi-asset funds exhibited poor performance in May; weekly outflows of $2.7 million were recorded for the final week, and $12.2 million in monthly outflows from multi-asset funds and products occurred in May.Since that time, more than $3 billion in ETH has been moved from centralized exchanges—suggesting potential supply shock issues for the digital asset in the coming weeks and months as exchange balances drop to lows not seen in years.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »
This is how crypto traders can get the most crypto for their moneyLow trading fees help traders get the most crypto for their money. This platform is leading the way with commission-free trading
Source: Cointelegraph - 🏆 562. / 51 Read more »