Inflows into Crypto Products Reached $2 Billion in May

During the period from May 25 to May 31, a total of $185 million was invested in cryptocurrency products. This brought the total for the month of May to almost $2 billion, according to calculations by CoinShares.

This marks the fourth consecutive week of positive growth and brings the total revenues for the year to over $15 billion. However, there was a decrease in trading volume for Exchange Traded Products (ETPs), dropping from $13 billion to $8 billion.

The majority of the investments went towards Bitcoin-related instruments, with $148 million being channeled in.

This is a significant turnaround from the previous reporting period, which saw an outflow of $1.01 billion. There was also an increase in short positions on Bitcoin, with investors taking $3.5 million compared to $4.3 million in the previous period. In Ethereum funds, there was a continuation of inflow for the second week in a row, however, the pace slowed from $35.5 million to $33.5 million.

This is attributed to the expected launch of an ETH-ETF in July, which analysts believe to be a driver for investor sentiment towards the asset.