According to data from CoinShares, global Bitcoin funds experienced substantial net inflows amounting to $148 million during the previous week. In contrast, short Bitcoin products recorded outflows totaling $3.5 million. This trend coincided with positive momentum in Ethereum, with Ethereum funds attracting $33.5 million, marking the second consecutive week of notable inflows following a prolonged period of subdued activity.
CoinShares observed, “This reflects a shift in investor sentiment for Ethereum, which had endured a 10-week stretch of outflows totaling $200 million.” The resurgence of interest in Ethereum has also had a favorable impact on other altcoins, notably Solana, which witnessed $5.8 million in inflows amidst speculation surrounding potential Solana ETFs and other altcoin-related products.
While the majority of these inflows originated from the United States, significant crypto investments were also reported in Canada and Switzerland, underscoring Ethereum’s robust institutional support alongside Bitcoin.
Industry experts are anticipating the potential debut of Ethereum ETFs in July, with projections suggesting they could capture approximately 20% of the demand observed by Bitcoin ETFs. Eric Balchunas, an ETF analyst at Bloomberg, remarked, “Securing 20% of Bitcoin ETF demand would signify an enormously successful launch by typical ETF standards,” highlighting the growing interest and potential impact of Ethereum-based investment products in the financial markets.
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