Digital assets manager CoinShares says institutions poured two billion dollars into crypto products last month.
In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products reached $185 million in inflows last week.
“Digital asset investment products saw inflows for the 4th consecutive week totaling US $185 million, with May seeing US $2 billion inflows, pushing year-to-date inflows past the US $15 billion mark for the first time on record. Volumes were down for the week though, falling to US$8bn, relative to US $13 billion the week prior.”
The US region brought in $130 million in inflows while Switzerland and Canada saw inflows of $36 million and $25 million, a stark turnaround for Canada, which saw overall outflows last month.
With investor sentiment remaining bullish on Bitcoin (BTC), the crypto king raked in $148 million last week while short-BTC products saw outflows of $3.5 million.
Meanwhile, Ethereum (ETH) products brought in $33.5 million last week.
“This represents a turnaround in investor sentiment in an asset that had seen a 10-week run of outflows prior, totaling US $200 million. This positive news for Ethereum has also had an impact on Solana, which saw a further US $5.8 million inflow last week.”
Solana (SOL) enjoyed $5.8 million in inflows during the period, as Chainlink (LINK), XRP, Litecoin (LTC) and Cardano (ADA) saw inflows of $1 million, $0.8 million, $0.6 million and $0.3 million, respectively.
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