Global cryptocurrency exchange-traded product (ETP) fund inflows surged last week, with cumulative inflows this year exceeding $10 billion (approximately 14.6 trillion won) for the first time. According to a report released by European digital asset manager CoinShares on the 26th (local time), a total of $3.3 billion (approximately 4.818 trillion won) of new funds flowed into global cryptocurrency ETPs during the week ending May 24th.
Consequently, the cumulative inflow this year has reached a total of $10.8 billion (approximately 15.768 trillion won), which is the highest level in cryptocurrency market history. CoinShares' chief research officer James Butterfill revealed that the assets under management (AUM) of cryptocurrency investment products temporarily reached a record high of $187.5 billion (approximately 273.75 trillion won).
Butterfill stated that "Moody's downgrade of the US national credit rating and the subsequent sharp rise in US Treasury yields were the main reasons investors turned their attention to digital assets for portfolio diversification," analyzing that interest in safe-haven assets is now flowing into the cryptocurrency market.
CoinShares had previously announced in a report published in mid-May that $785 million (approximately 1.1461 trillion won) of new funds had flowed into cryptocurrency investment products. This figure raised the annual cumulative total inflow to $7.5 billion (approximately 10.95 trillion won) at that time.
The newly recorded inflow of $10.8 billion far exceeds the monthly maximum inflow of $7.2 billion (approximately 10.512 trillion won) recorded in February. Particularly, it has completely recovered the approximately $7 billion (approximately 10.22 trillion won) of capital outflow that occurred during the price adjustment period in February and March, and has shown additional upward momentum, demonstrating the market's strong resilience.
Cryptocurrency exchange-traded products are becoming a capital inflow channel for global institutional investors by increasing investment accessibility to major assets such as Bitcoin (BTC) and Ethereum (ETH). As uncertainty in US political and macroeconomic environments intensifies, the flow of funds moving to digital assets to avoid regulation is becoming increasingly prominent.
Real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
