Inflows into Crypto-based Products Reach $1B

In the May 18 to May 24 period, cryptocurrency investment products experienced a significant inflow of $1.05 billion, marking the third consecutive week of positive trend, as reported by CoinShares.

This brings the total inflow for the year to $14.9 billion. The weekly trading volume for ETPs also saw a 28% increase, reaching $13.6 billion.

Over $1 billion was allocated to Bitcoin-related instruments, showing an increase from the previous week’s $942 million.

However, short Bitcoin products experienced an outflow of $4.3 million.

According to analysts, this indicates a positive sentiment despite recent price increases, potentially due to investors seeing the FOMC meeting minutes and macroeconomic data as slightly dovish.