Digital asset investments are on the rise, with the latest report from Coinshares revealing a fourth consecutive week of inflows, totaling $185 million. This surge in investment has pushed the overall total for May to an impressive $2 billion. The report also highlights that year-to-date investments have now surpassed the $15 billion mark.
According to James Butterfill, head researcher at Coinshares, there has been a continuous influx of capital into digital assets, particularly bitcoin (BTC) and ethereum (ETH). This positive sentiment is further supported by the recent approval from the U.S. Securities and Exchange Commission (SEC) for spot-based exchange-traded funds (ETFs) for ethereum. This development paves the way for the anticipated launch of these ETFs in the summer.
Bitcoin led the way in terms of inflows, with a total of $148 million. Ethereum also showed signs of recovery, attracting significant investment after a period of outflows. On the other hand, short-bitcoin products experienced outflows, indicating a positive shift in investor sentiment. Coinshares' report also highlights notable inflows from other regions such as Switzerland and Canada, suggesting a broader positive trend across major markets.
However, it's not all good news for the digital asset market. Blockchain equities faced challenges, witnessing outflows of $7.2 million last week and a total of $516 million for the year. This divergence suggests that investors have different approaches within the digital asset space, highlighting the dynamic nature of this evolving market.
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