Ethereum

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The crypto market is showing signs of a bullish resurgence, with reports of an impressive $2 billion in inflows for May alone.&nbsp; 
Alongside this positive trend, Ethereum (ETH) has seen a notable turnaround in investor sentiment as the long-awaited spot <a href="https://www.newsbtc.com/news/next-big-move-for-bitcoin-analysts-predict-a-potential-breakout-at-71500/" target="_blank" rel="noopener ">exchange-traded funds</a> (ETFs) for the market’s second-largest cryptocurrency received approval from the US regulators last week.&nbsp; 
<h2 id="record-breaking-month-for-crypto-products">Record-Breaking Month For Crypto Products</h2> 
According to a recent <a href="https://etp.coinshares.com/knowledge/market-activity/fund-flows-03-06-24" target="_blank" rel="noopener nofollow">report </a>from research firm CoinShares, digital asset investment products consistently attracted inflows during the four weeks, amassing a total of $185 million.&nbsp; 
May proved to be particularly fruitful, with inflows surpassing $2 billion. This achievement marks the first time on record that<a href="https://www.newsbtc.com/news/bitcoin/bollinger-bands-inventor-bitcoin-pullback/" target="_blank" rel="noopener "> year-to-date inflows</a> have exceeded the $15 billion mark, highlighting investors’ growing interest in the crypto market. 
Most inflows originated from the United States, with a net inflow of $130 million. However, it is worth noting that ETF issuers experienced outflows amounting to $260 million.&nbsp; 
Switzerland also witnessed a significant uptick in investor interest, recording its second-largest weekly inflow this year at $36 million. Meanwhile, Canada witnessed a positive turnaround, with inflows of $25 million, despite experiencing a <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-consolidates-3650/" target="_blank" rel="noopener ">net outflow </a>of $39 million in May. 
<h2 id="ethereum-rebounds-with-200m-inflows">Ethereum Rebounds With $200M Inflows</h2> 
Per the report, Bitcoin (BTC) continued to dominate the crypto market, attracting inflows totaling $148 million. Conversely, <a href="https://www.newsbtc.com/bitcoin-news/crypto-analyst-bitcoin-79600-if-this-holds/" target="_blank" rel="noopener ">short-Bitcoin products</a> witnessed another week of outflows, amounting to $3.5 million, suggesting that sentiment among ETF investors remains largely positive for the leading cryptocurrency. 
Ethereum, on the other hand, experienced a notable change in investor sentiment following the Securities and Exchange Commission’s (SEC) approval of a spot-based ETF that is expected to launch in July 2024.&nbsp; 
CoinShares notes that this approval marked a turning point for Ethereum, which had endured ten weeks of outflows totaling $200 million. Interestingly, the positive news for Ethereum had a ripple effect on <a href="https://www.newsbtc.com/news/is-polkadot-preparing-for-a-100-surge-and-spike-above-20/" target="_blank" rel="noopener ">Solana </a>(SOL), which received an additional $5.8 million in inflows last week. 
While direct investments in crypto assets have been thriving, blockchain equities faced a different scenario. In the past week alone, blockchain equities witnessed outflows of $7.2 million.&nbsp; 
The report notes that since the beginning of the year, the sector has suffered outflows totaling $516 million, reflecting a challenging period for blockchain-related stocks. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/1BHhIoWU/" alt="Crypto" width="1815" height="858"> 
At the time of writing, Ethereum has seen a 4% price drop in the last week, resulting in a trading price of $3,770. However, the second-largest cryptocurrency on the market still holds gains of 21%, as recorded in the 30 days.&nbsp; 
Featured image from DALL-E, chart from TradingView.com

Rising Tide: Crypto Investment Products See $185M Inflows, May Sets New Record At $2 Billion

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