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Digital asset weekly inflows jump over 600% following response to CPI report

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Cryptocurrencies News

Bitcoin,Ethereum

Coinshares weekly report of digital asset flows shows that crypto assets witnessed more than a 600% increase in net inflows last week after US Consumer Price Index (CPI) saw a softer-than-expected inflation increase.

Coinshares reported that digital assets saw net inflows of $932 million last week after CPI data release. Hong Kong witnesses $82.5 million outflows, suggesting crypto ETFs in the region may not be worth the hype. Global ETF volume slightly increased last week but was still miles below volumes seen in March and April.

89% of the reported total flows came in the last three days of the week after the CPI data release. Read more:Digital asset funds record weekly inflows for first time in five weeks Bitcoin accounted for a large chunk of total flows, with over $942 million in inflows. Solana and Chainlink also recorded inflows of $4.9 million and $3.7 million, respectively. Ethereum, on the other hand, recorded outflows of nearly $23 million following bearish sentiments last week regarding spot ETH ETF approval.

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