Digital assets investments said the first inflow in five weeks with $130 million of net gains over the past week.
Interestingly, the lack of action from US regulators regarding spot Ethereum ETF applications has sparked speculation that approval wonāt happen soon, and this has resulted in significant outflows for Ethereum in the same timeframe.
CoinSharesā latest edition of Digital Asset Fund Flows Weekly Report revealed that Bitcoin investment products experienced $144 million in inflows, rebounding from a sluggish month. Short-bitcoin ETPs experienced outflows of $5.1 million, bringing the total outflows over the last 8 weeks to $18 million.
Among the altcoins, Solana stood out with weekly inflows of $5.9 million. With US regulators showing little interest in spot Ethereum ETF applications, thereās growing speculation that approval isnāt on the horizon. This lack of progress has been evident in outflows, which surged above $14 million last week.
Meanwhile, investment products designed for Polkadot saw $1.3 million in inflows, followed by XRP and Litecoin, which had $0.6 million and $0.1 million, respectively.
CoinShares also revealed that the volumes of Exchange-Traded Products (ETPs) are decreasing, with only $8 billion traded last week compared to an April average of $17 billion.
According to the asset manager, this decline indicates that ETP investors currently need to be more active in the crypto market, representing 22% of total volumes on global exchanges, down from 31% last month.
In terms of regions, the US received the largest inflow of $135 million, while Grayscale, a major player, saw its lowest weekly outflows since January, totaling $171 million. Switzerland also saw inflows of $14 million.
Hong Kong, which experienced record inflows the previous week, only received $19 million in inflows, suggesting that most of the capital invested in the first week after the launch of Bitcoin ETFs as seed capital. Additionally, Australia and Brazil settled with $0.7 million and $0.3 million in inflows during the same period.
On the other hand, Canada and Germany continued to experience outflows, with $20 million and $15 million, respectively, bringing their combined year-to-date outflows to $660 million. Sweden also recorded weekly outflows of $4.8 million.
The post Ethereum Products Bleed Funds Amidst Regulatorsā Silence on ETF Application appeared first on CryptoPotato.
Interestingly, the lack of action from US regulators regarding spot Ethereum ETF applications has sparked speculation that approval wonāt happen soon, and this has resulted in significant outflows for Ethereum in the same timeframe.
Investors Brace for Delay in Spot Ethereum ETF Approval
CoinSharesā latest edition of Digital Asset Fund Flows Weekly Report revealed that Bitcoin investment products experienced $144 million in inflows, rebounding from a sluggish month. Short-bitcoin ETPs experienced outflows of $5.1 million, bringing the total outflows over the last 8 weeks to $18 million.
Among the altcoins, Solana stood out with weekly inflows of $5.9 million. With US regulators showing little interest in spot Ethereum ETF applications, thereās growing speculation that approval isnāt on the horizon. This lack of progress has been evident in outflows, which surged above $14 million last week.
Meanwhile, investment products designed for Polkadot saw $1.3 million in inflows, followed by XRP and Litecoin, which had $0.6 million and $0.1 million, respectively.
CoinShares also revealed that the volumes of Exchange-Traded Products (ETPs) are decreasing, with only $8 billion traded last week compared to an April average of $17 billion.
Grayscale Leads US Inflows
According to the asset manager, this decline indicates that ETP investors currently need to be more active in the crypto market, representing 22% of total volumes on global exchanges, down from 31% last month.
In terms of regions, the US received the largest inflow of $135 million, while Grayscale, a major player, saw its lowest weekly outflows since January, totaling $171 million. Switzerland also saw inflows of $14 million.
Hong Kong, which experienced record inflows the previous week, only received $19 million in inflows, suggesting that most of the capital invested in the first week after the launch of Bitcoin ETFs as seed capital. Additionally, Australia and Brazil settled with $0.7 million and $0.3 million in inflows during the same period.
On the other hand, Canada and Germany continued to experience outflows, with $20 million and $15 million, respectively, bringing their combined year-to-date outflows to $660 million. Sweden also recorded weekly outflows of $4.8 million.
The post Ethereum Products Bleed Funds Amidst Regulatorsā Silence on ETF Application appeared first on CryptoPotato.
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