Crypto ETFs and ETPs See Inflows of $2.2B in May: ETFGI
ETFGI, an independent research firm, reports crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) listed globally saw inflows of $2.2 billion during May. This brings year-to-date net inflows to a total of $44.50 billion.
This time last year inflows were at a total of $135.57 million, reports ETFGI in its May 2024 ETF and ETP Crypto industry landscape insights report.
The $2.2 billion inflows in May is an increase of 16.7% from $70.47 billion at the end of April 2024 to $82.27 billion at the end of May 2024, reports ETFGI.
On January 11, the U.S. Securities and Exchange Commission approved eleven spot Bitcoin ETF applications, from BlackRock, Ark Investments/ 21Shares, Fidelity, Invesco and VanEck — this, in turn, caused a trading frenzy and triggered a bull market.
In February, crypto ETFs and ETPs listed globally gathered net inflows of $9.20 billion during February, showing excitement for the products is dwindling.
Keeping on trend the iShares Bitcoin Trust trading under the ticker “IBIT” gathered $1.17 billion, the largest individual net inflow. ETFGI reports substantial inflows can be attributed to 20 ETFs/ETPs by net new assets, which gathered $3.11 billion during May.
Fidelity and the Ark Investments/ 21Shares products also saw notable inflows.
In May, the number of Crypto ETFs and ETPs listed globally continued to rise. The sectors had 208 products, with 551 listings, and assets of $82.27 billion, from 47 providers listed on 20 exchanges in 16 countries.
The UK welcomed several bitcoin and ethereum exchange-traded notes (ETNs) listed on the London Stock Exchange (LSE), but the products are failing to attract inflows due to the lack of institutional demand, according to crypto ETP providers.
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