Ethereum
Ethereum Sees Reversal in Sentiment Among Institutional Investors Amid $2,000,000,000 Monthly Inflows: CoinShares
Digital asset manager CoinShares says institutions invested two billion dollars in crypto products last month.
In its latest report on digital asset fund flows, CoinShares said digital asset investment products reached $185 million in inflows last week.
“Digital asset investment products recorded inflows for the 4th consecutive week totaling US$185 million, with May seeing inflows of US$2 billion, pushing year-to-date inflows beyond the US$15 billion mark for the first time on record. Volumes, however, declined for the week, falling to $8 billion from $13 billion the week before.
The United States region generated inflows of $130 million, while Switzerland and Canada saw inflows of $36 million and $25 million, a sharp turnaround for Canada, which saw overall outflows in the month last.
Investor sentiment remaining optimistic on Bitcoin (BTC), the crypto king raked in $148 million last week, while short-term BTC products saw outflows of $3.5 million.
Meanwhile, Ethereum (ETH) products grossed $33.5 million last week.
“This represents a turnaround in investor confidence in an asset that had already seen a 10-week series of capital outflows, totaling US$200 million. This positive news for Ethereum also impacted Solana, which saw an additional inflow of $5.8 million last week.
Solana (GROUND) enjoyed $5.8 million in fundraising during the period, while Chainlink (LINK), XRPLitecoin (LTC) and Cardano (ADA) recorded inflows of $1 million, $0.8 million, $0.6 million and $0.3 million, respectively.
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