Crypto Funds Record Inflows Following Four Weeks of Outflows
Between May 4 and May 10, cryptocurrency investment products saw an influx of $130 million, as reported by CoinShares. The trading volume of ETPs decreased from an average of $17 billion in April to $8 billion.
The proportion of crypto products in the total turnover of digital assets on reputable platforms fell from 31% to 22%. Investors allocated $144 million to Bitcoin-related instruments during this period, a significant improvement from a $251 million outflow in the previous reporting cycle.
A contributing factor was the decrease in withdrawals from GBTC and other Grayscale products to $171 million, marking the lowest level since January.
From structures allowing short positions on Bitcoin, investors withdrew $5.1 million. In Ethereum funds, following a one-week increase of $30 million, there was a resumption of outflows amounting to $14 million.
Analysts attribute this negative trend to increasing skepticism regarding the approval of an ETH-ETF amid a lack of active engagement between regulators and issuers.
