Inflows to crypto Bitcoin funds top $1 billion as BTC price remains stuck in a range below all-time highs.
Inflows into Bitcoin (BTC) investment products topped $1 billion last week, with the total year-to-date inflows reaching approximately $14.6 billion, according to CoinShares. This surge in investment is largely attributed to institutions and long-term investors increasing their exposure to spot Bitcoin ETFs.
For the week ending May 24, Bitcoin exchange-traded products (ETPs) registered $1.01 billion in inflows. The total inflows for all cryptocurrency investment products reached $1.05 billion, marking an all-time record of $14.9 billion for 2024 so far.
CoinShares' "Digital Asset Fund Flows Weekly" report, published on May 28, highlighted a 28% increase in weekly trading volumes, reaching $13.6 billion. Crypto funds now manage $98.43 billion in assets.
