CPI report spurs $932M inflows into crypto investment funds
Digital asset investment funds attracted $932 million in weekly inflows, according to CoinShares data.
Crypto-based investment products saw a significant inflow over the previous week, marking the second consecutive week of positive flows since the recent market downturn.
According to CoinShares data, digital asset investment products amassed $932 million between May 13 and 17, driven by an immediate response to the U.S. Consumer Price Index (CPI) report, which seemed to show that inflationary pressures were moderating again. Despite higher nflows, weekly volumes remained relatively low at $10.5 billion, a sharp contrast to the $40 billion observed in March.
The May 15 CPI report revealed that inflation rose by 0.3% in April, following a 0.4% increase in March. The CPI grew by 3.4% year over year, driven by significant increases in the energy and food sectors.
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Author: Ana Paula Pereira
