Ethereum

Cardano

Solana

Impact

Chainlink

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Digital asset investment products accumulated $932 million between May 13 and 17.</li>
 <li>Altcoin funds such as Solana, Chainlink, and Cardano saw inflows, while Ether funds experienced outflows.</li>
</ul>
<p>Digital asset investment products experienced a notable inflow in the week from May 13 to 17. This marks the second week of positive flows following the recent downturn in the market.</p>
<p>The inflow, totaling $932 million, was largely a response to the U.S. Consumer Price Index (CPI) report. The report suggested a moderation in inflationary pressures. However, despite the increased inflows, weekly volumes stayed low at $10.5 billion, a stark contrast to the $40 billion seen in March.</p>
<h2 id="impact-of-cpi-report">Impact of CPI Report</h2>
<p>The CPI report for May 15 showed that inflation rose by 0.3% in April, following a 0.4% increase in March. The CPI grew by 3.4% year over year, with significant increases in the energy and food sectors. This report prompted a surge in investment, with 89% of the total flows coming in the last three trading days of the week.</p>
<h2 id="bitcoin-and-altcoin-funds">Bitcoin and Altcoin Funds</h2>
<p>It’s worth noting that after <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> spot exchange-traded funds (ETFs) were approved in the United States in January, the factors influencing Bitcoin’s price began to align with market expectations around interest rates. Grayscale’s Bitcoin ETF saw minor inflows over the week, totaling $18 million. However, since its conversion in January, the fund has seen outflows of $16.6 billion.</p>
<p>In contrast, a variety of altcoin funds saw inflows over the past week, including Solana (SOL), Chainlink (LINK) and Cardano (ADA). However, <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> funds experienced outflows of $23 million, likely due to concerns over how the Securities and Exchange Commission (SEC) will decide on spot Ether ETFs.</p>
<p>The SEC’s first deadline over the crypto ETF is set to expire on May 23. Two ETF analysts, James Seyffart and Eric Balchunas, have revised their prediction regarding the SEC’s approval of spot Ether ETFs. Initially expecting a denial, the analysts now believe there is a 75% chance of approval after hearing new information about the SEC’s stance.</p>

Crypto Investment Funds See $932M Surge Following CPI Report

Table of Contents

crypto.ro global

Other articles published on May 20, 2024

Navigating the Upcoming Crypto Earnings Calendar: Bitcoin Price Explosive Rally To $100,000 Immin...

Is It Too Late To Buy GOME? Game Of Memes Explodes 400% As Experts Say Consider This Crypto Casin...

Worldcoin hits $4.7: Is a May bull run still on the cards?

Litecoin Whale Accumulation Surges, LTC Price Breakout Above $100 Imminent?

Solana (SOL) Breaks Barriers, Ethereum (ETH) Steadies, Furrever Token (FURR) Explodes with Invest...

5 Signs Bull Run Is Around The Corner

Join our free newsletter for daily crypto updates!