Inflows into crypto derivatives have reached a record $14,9 billion since the beginning of the year

What’s new? Experts of the investment company CoinShares have been recording an inflow of funds into crypto derivatives for the third week in a row. Last week it amounted to $1,05 billion, and since the beginning of the year, it reached a record high of $14,9 billion. The recent price increase also led to an increase in the value of assets under management of cryptocurrency exchange-traded products (ETP) to $98,5 billion, and the weekly trading volume of ETP increased by 28% to $13,6 billion.

CoinShares report

What else is known? Regionally, inflows were predominantly concentrated in the US ($1,03 billion), with outflows from crypto funds at investment firm Grayscale falling to just $15 million per week.

After the launch of spot bitcoin exchange-traded funds (ETFs) in the US on January 11, Grayscale’s GBTC fund faced a large-scale outflow of funds; in mid-March, it exceeded $640 million in one day alone, but since then the figure has been gradually decreasing, and in May, some days even recorded a positive result.

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Germany and Switzerland also saw inflows of $48 million and $30 million respectively. In contrast, Hong Kong saw an outflow of $29 million, although the city only approved bitcoin and Ethereum-based spot ETFs on April 30, and they initially brought in over $300 million.

In terms of assets, the main inflow traditionally came to bitcoin-based products ($1,01 billion). In short positions on the asset for several weeks in a row, the outflow has been recorded, this time it reached $4,3 million.

In general, as CoinShares notes, traders’ sentiment is becoming more positive. This may be partly due to the outcome of the recent US Federal Reserve rate meeting.

As for Ethereum, products based on the largest altcoin raised $36 million over the past week, a record since March. This result is likely a reaction to the interim approval of spot ETH ETFs in the US.

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Solana-based investment products are also in demand, having raised $8 million during the week. Some experts admit the possibility that after the approval of spot ETH ETFs, the US securities regulator may also allow similar SOL-based products to enter the market.