Interest in crypto funds has returned after four weeks of outflows
Interest in crypto funds has returned after four weeks of outflows

Interest in crypto funds has returned after four weeks of outflows

According to CoinShares data, $130 million flowed into cryptocurrency investment products from May 4th to 10th.

Meanwhile, ETP trading volume decreased from an average of $17 billion in April to $8 billion.

The share of crypto products in the total turnover of digital assets on reliable platforms decreased from 31% to 22%.

Regarding Bitcoin-related instruments, clients deposited $144 million compared to outflows of $251 million in the previous period.

One of the factors behind this phenomenon is the decrease in withdrawals from GBTC and other Grayscale products to $171 million, the lowest level since January.

Investors withdrew $5.1 million from structures allowing for short positions on Bitcoin.

There has been a return of funds to Ethereum funds after a week-long pause (+$30 million), followed by outflows ($14 million). Analysts associate the negative trend with increasing doubts about ETH-ETFs amid inactive interaction between regulators and issuers.

Among other altcoins, attention should be paid to inflows into Solana-based instruments ($5.9 million) and Polkadot ($1.2 million), as well as outflows of $3.4 million from basket asset-based products.

Recall that Bitfinex experts predicted sideways movement for Bitcoin in May and subsequent asset growth.

Earlier, Standard Chartered stated that the first cryptocurrency reached a minimum at $56,500, confirming the forecast of $150,000 by the end of the year and $200,000 by the end of 2025.

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