The influx into cryptocurrency investment products from May 11 to May 17 amounted to $932 million. Such calculations were reported by CoinShares.
Analysts said the inflows were "an immediate response" to US inflation data, with the last three trading days of the week accounting for 89% of total flows.
Clients allocated $942 million to Bitcoin-related instruments, compared to $144 million in the previous reporting period. Structures that allow opening shorts on the first cryptocurrency received almost no inflow.
Bearish sentiment continues to prevail in Ethereum funds - the outflow amounted to $23.3 million. CoinShares considers the reason for the dim prospects for the approval of spot ETH-ETF on May 23.
Of the altcoins, the most notable inflows were into instruments based on Solana, Chainlink and Cardano: $4.9 million, $3.7 million and $1.9 million, respectively.
Let us remind you that Bitfinex experts predicted a flat trend for Bitcoin in May and further growth of the asset.
Earlier, Standard Chartered said that the first cryptocurrency had already formed a minimum of $56,500, confirming the target of $150,000 at the end of the year and $200,000 by the end of 2025.#Bitcoin
