Inflows into crypto derivatives have been maintained for the fourth week in a row

Since the beginning of the year, the figure has exceeded $15 billion

03.06.2024 - 13:32

3 min

What’s new? Analysts of the investment company CoinShares have recorded the inflow of funds into cryptocurrency derivatives for the fourth week in a row. From May 27 to May 31, the figure amounted to $185 million, and for the month as a whole reached $2 billion. Since the beginning of the year, the inflow into investment crypto products exceeded $15 billion, which has become a new record.

CoinShares report

What else is known? Despite the positive bottom line, trading volumes in cryptocurrency exchange-traded products (ETPs) fell from $13 billion to $8 billion for the week.

Regionally, the main inflow came from the United States ($130 million), followed by Switzerland with the second-largest weekly inflow since the beginning of the year at $36 million. In third place is Canada, with a result of $25 million.

Most of the inflows have traditionally come from bitcoin-based products, they attracted $148 million. According to CoinShares analysts, the sentiment of investors in exchange-traded funds (ETFs) remains positive, as there has been an outflow in short BTC positions for several weeks. This time it amounted to $3,5 million.

After the US Securities and Exchange Commission (SEC) 23 approved part of the documents required to launch spot ETFs based on Ethereum, the asset also improved its performance.

For instance, inflows into Ethereum have persisted for the second week and totaled $33,5 million this week, although before that there were outflows totaling $200 million over the 10-week period.

News about the progress towards the launch of ETH funds had a positive effect on products based on the native token of the Solana blockchain, with investors pouring $5,8 million into them in a week.

Ripple CEO allows the possibility of the emergence of ETFs based on XRP, SOL, and ADA after the launch of ETH funds

Brad Garlinghouse believes that allowing such products into the US market is only a matter of time

Although the week was successful for the cryptocurrency sector, blockchain stocks faced outflows. It totaled $7,2 million for the week and has reached $516 since the beginning of the year.

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