Traditional investors continue to shed their holdings as crypto ETFs saw a third week of consecutive outflows totaling $30 million. Ethereum ETFs were most affected in past week with $61 million in outflows. CoinShares' report suggests Bitcoin may be experiencing a change in market sentiment. CoinShares' report on Monday revealed that crypto ETFs experienced a third consecutive week of outflows, fueled by significant outflows across Ethereum ETFs.
On the international scene, US crypto ETFs continue to dominate with over $43 million in net inflows despite outflows from Grayscale's GBTC. Australia and Brazil followed with $3 million and $7.6 million in inflows, respectively. Ethereum had the highest share of outflows across crypto assets with $61 million worth of exits across ETH ETFs.
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Crypto fund inflows hit $2B in May led by BTC — CoinSharesCoinShares' latest Digital Asset Fund Flows report shows $185 million in capital inflows for the final week in May and strong performance for Ethereum and Bitcoin funds.
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