Bitcoin ETF

Million

Spot

Led by spot Bitcoin ETF, Digital asset investment products experienced inflows totaling $932 million for the second week. According to a<a href="https://blog.coinshares.com/volume-183-digital-asset-fund-flows-weekly-report-21f5ffa273a5" rel="noopener noreferrer nofollow"> report published</a> by James Butterfill on Medium showing weekly crypto asset fund flows, the surge in investment was largely attributed to a lower-than-expected Consumer Price Index (CPI) report, which had a significant impact on market sentiment.
<h2 id="b-grayscale-experienced-inflows-b">Grayscale Experienced Inflows&nbsp;</h2>
The CPI report, a critical measure of inflation, came in below analysts’ predictions, signaling a potential easing of inflationary pressures. This unexpected data release prompted a flurry of investment activity, particularly in the latter part of the week. During the last three trading days, 89% of the total inflows were recorded, highlighting the immediate market response to CPI news.
Despite experiencing $16.6 billion in outflows since the launch of its spot Bitcoin ETF in January, Grayscale saw a minor inflow for the first time, amounting to $18 million. In addition, Switzerland and Germany experienced minor inflows of $27 million and $4.2 million, respectively, while Hong Kong and Canada witnessed outflows amounting to $83 million and $17 million, respectively.
Likewise, Solana, Chainlink, and Cardano saw $4.9 million, $3.7 million, and $1.9 million in inflows respectively. Meanwhile, Ethereum (ETH) continues to experience bearishness over the prospects for SEC approval of a spot-based ETF with outflows of $23 million.&nbsp;
<h2 id="b-crypto-investment-products-continues-to-experience-surge-b">Crypto Investment Products Continues to Experience Surge&nbsp;</h2>
A few days ago, <a href="https://thecoinrise.com/crypto-investment-products-sees-130m-in-inflow-reports/" rel="noopener noreferrer nofollow">crypto investment products experienced a surge in inflow</a> for the first time in over a month, reaching $130 million with the United States frontrunning the trend. According to reports, the United States received $135 million in crypto inflow, following its substantial $721 million inflow in February.
Additionally, <a href="https://thecoinrise.com/bitcoin-btc-shines-as-crypto-market-hit-708m-in-weekly-inflow/" rel="noopener noreferrer nofollow">Bitcoin continued to lead the way in attracting investments</a>, with $144 million in inflows recovering from a weak month. This surge in capital is attributed to the newly issued Exchange-Traded Funds (ETFs), which attracted a remarkable $41.7 billion in inflows. This <a href="https://crypto-vanguard.com/2024/05/16/spot-bitcoin-etf-holdings-of-top-5-corporate-holders-unveiled/" target="_blank" rel="noopener noreferrer nofollow">spot Bitcoin ETF</a> surge takes its backing from the growing list of institutional adopters as confirmed in the filed Form 13-F lodged with the US SEC this month.
<h2 id="b-us-spot-bitcoin-etf-see-three-days-inflows-b">US Spot Bitcoin ETF See Three Days Inflows</h2>
Recall that in April, the rising popularity of Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) became evident as <a href="https://thecoinrise.com/us-spot-bitcoin-etfs-see-three-days-consistent-inflows/" rel="noopener noreferrer nofollow">spot BTC ETFs marked their third consecutive day of net inflows,</a> totaling an impressive $31.64 million.
According to the data, BlackRock’s spot Bitcoin ETF brought in $37.92 million, the largest daily net inflow amongst others. Ark Invest brought in $33.28 million, while Bitwise had $23.23 million in net inflows. This significant influx of funds brought the total net inflow to $12.42 billion, with a total net assets of $55.82 billion.
Furthermore, the consecutive days of net inflows highlight a sustained trend rather than a fleeting interest in Bitcoin ETFs. This report comes months after the US Spot BTC ETF industry <a href="https://thecoinrise.com/spot-bitcoin-etf-surge-makes-record-accumulation-splash/" rel="noopener noreferrer nofollow">recorded six straight days of net positive inflows</a> totaling nearly $715 million.
The post <a href="https://thecoinrise.com/bitcoin-etf-and-digital-asset-investment-products-sees-932-million-inflows/" rel="noopener noreferrer nofollow">Digital Asset Investment Products Sees $932 Million Inflows</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Digital Asset Investment Products Sees $932 Million Inflows

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