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May 2024 Crypto Market Highlights - SEC surprisingly approved 8 US ETH spot ETFs (have not yet begun trading) - $2B in net inflows for BTC spot products (source: Coinshares) - ETH MoM up 21% - BTC MoM up 9% I expect ETH to run pretty hard as soon as the ETFs begin trading (ETH… https://t.co/wJZ0RukoQ2
Digital Asset Firm @CoinSharesCo Reports 4th Consecutive Week of Inflows Into #DigitalAsset Funds https://t.co/KDRpbQ1RIt
📈Bitcoin is kicking off June with a rally, briefly trading above $70,000. Data from @CoinSharesCo shows that $185M flowed into digital asset investment products last week - a fourth straight week of inflows. Read more: https://t.co/UwxoiSGl8R https://t.co/Z7g9wYXYZn
Digital asset investment products recorded inflows for the fourth consecutive week, totaling $185 million, according to CoinShares. In May, inflows reached $2 billion, bringing year-to-date inflows to over $15 billion. Most of the inflows went into Bitcoin, which saw $148 million. Ethereum also saw inflows for the second week following SEC approval of a spot-based ETF, reversing a 10-week $200 million outflow trend. Solana gained with a $5.8 million inflow. Despite a decline in weekly volumes, the digital asset market continues to attract substantial investments. Bitcoin is kicking off June with a rally, briefly trading above $70,000.