According to CoinShares, inflows into Bitcoin (BTC) investment products reached $1 billion last week, with total inflows to date reaching about $14.6 billion. This increase in investment is largely due to institutions and long-term investors increasing their exposure to spot Bitcoin ETFs.
During the week ending May 24, Bitcoin Exchange-Traded Products (ETPs) recorded inflows of $1.01 billion. Total Capital into all crypto investment products reached $1.05 billion, marking an all-time record of $14.9 billion in 2024 to date.
CoinShares’ “Weekly Digital Asset Flow” report, published on May 28, highlighted a 28% increase in weekly volume , reaching $13.6 billion. Crypto funds currently manage $98.43 billion in assets.
The recent increase in buying and price increase is mainly driven by market anticipation of the approval of spot Ether ETFs in the US. Although Bitcoin underperformed Ether (ETH) after the approval of the Ether ETF, continued Capital into spot Bitcoin ETFs were considered significant.
Data from Farside Investor shows that institutions invested nearly $1.057 billion in spot Bitcoin ETFs between May 20 and 24. Grayscale's GBTC sees a significant drop in outflows down to only 20.5 million USD during the week.
