News Formal

Crypto investment products saw $1.4 billion in net inflows last week: CoinShares

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 53%

Crypto Funds News

South Africa South Africa Latest News,South Africa South Africa Headlines

While Bitcoin products dominated, Ethereum funds also had a strong week, adding $72 million, likely in anticipation of a spot ETF launch.

Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $1.44 billion last week, according to CoinShares' latest report.

Unsurprisingly, Bitcoin-based funds dominated with $1.35 billion in net inflows, while short-Bitcoin products saw the largest weekly net outflows since April, totaling $8.6 million. U.S. spot bitcoin exchange-traded funds brought in $1.05 billion alone last week amid a six-day positive streak as total net inflows since launching in January reached a record $15.8 billion.

The Securities and Exchange Commission’s approved eight 19b-4 forms for spot Ethereum ETFs from BlackRock, Fidelity, Bitwise, VanEck, Ark Invest, Invesco, Franklin Templeton and Grayscale on May 23.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinSharesJamie Crawley is a CoinDesk news reporter based in London.
Source: CoinDesk - 🏆 291. / 63 Read more »

Trump speaking at Bitcoin Conference seen as 'pivotal moment' for crypto industryTrump speaking at Bitcoin Conference seen as 'pivotal moment' for crypto industry
Source: Investingcom - 🏆 450. / 53 Read more »