) investment products topped $1 billion last week, with the total year-to-date inflows reaching approximately $14.6 billion, according to CoinShares. This surge in investment is largely attributed to institutions and long-term investors increasing their exposure to spot Bitcoin ETFs.
For the week ending May 24, Bitcoin exchange-traded products registered $1.01 billion in inflows. The total inflows for all cryptocurrency investment products reached $1.05 billion, marking an all-time record of $14.9 billion for 2024 so far.on May 28, highlighted a 28% increase in weekly trading volumes, reaching $13.6 billion. Crypto funds now manage $98.43 billion in assets.by market anticipation of spot Ethereum ETFs approval in the United States.
Data from Farside Investors shows that institutions invested nearly $1.057 billion in spot Bitcoin ETFs between May 20 and May 24. Grayscale’s IBIT saw outflows subside dramatically to just $20.5 million for the week.
According to popular analyst Daan Crypto Trades, Bitcoin’s price action over the last several months has been within a wide range, stretching from $59,095 to the March 14 all-time highIndependent trader John Albert noted on May 28 that Bitcoin has been trading in a tight range for the past few weeks. He suggested that BTC could see"further gains" if it breaks above the upper limit of $68,000, currently acting as immediate resistance.
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Susquehanna International Group adds $1B in Bitcoin ETFs to portfolioMore than $1 billion was invested in Bitcoin ETFs by Susquehanna International Group in Q1 2024, according to a filing with the U.S. SEC.
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