Ethereum

Solana

Bitcoin ETF

Bitcoin

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Digital asset investment products <a href="https://medium.com/m/global-identity-2?redirectUrl=https%3A%2F%2Fblog.coinshares.com%2Fvolume-155-digital-asset-fund-flows-weekly-report-c509d7ea4610" rel="noopener noreferrer nofollow">have garnered</a> an impressive $326 million in inflows. This represents the most substantial single-week inflow since July 2022.&nbsp;
Predictably, Bitcoin (BTC) is dominating the scene, attracting 90% of these inflows, and amassing an impressive $296 million.&nbsp;
This surge in Bitcoin investments comes in tandem with a price spike that also triggered inflows of U.S. $15 million into short-Bitcoin investment products.&nbsp;
Furthermore, Solana (SOL) experienced a significant boost with inflows of $24 million.
However, not all major cryptocurrencies enjoyed the influx — Ethereum (ETH) faced another week of outflows, shedding $6 million.
<h2 id="significant-inflows-bolster-major-crypto-funds">Significant inflows bolster major crypto funds</h2>
The inflows are driven by speculation about the U.S. Securities and Exchange Commission (SEC) potentially giving the nod to a spot-based Bitcoin ETF in the country. Such an approval could potentially revolutionize the industry from a regulatory standpoint.&nbsp;
The U.S. played a relatively minor role, accounting for only 12% ($38 million) of the total inflows, while nations like Canada, Germany and Switzerland took the lead with inflows of U.S. $134 million, U.S. $82 million and U.S. $50 million, respectively.&nbsp;
Asia also marked its presence with a notable inflow of U.S. $28 million. These investments have propelled the total assets under management to a robust U.S. $37.8 billion, a peak not witnessed since May 2022.
<h2 id="ethereum-s-struggles-in-focus">Ethereum's struggles in focus</h2>
The fact that Ethereum funds keep bleeding cash is not surprising given the lackluster performance of the main altcoin.
As r<a href="https://u.today/ethereum-eth-reaches-2023-low-against-bitcoin-btc" rel="noopener noreferrer nofollow">eported by U.Today</a>, the leading altcoin seems to be grappling with challenges. The cryptocurrency's price is currently languishing around a multimonth low compared to Bitcoin, and it is the lowest since Ethereum's transition to proof-of-stake (PoS).
Recent data from TradingView indicates a dip in the ETH/BTC trading pair, plummeting to a low of 0.051 BTC, a sharp decline from its zenith of 0.088 BTC in December 2021.

XRP, BTC and SOL Funds See More Inflows; Why Is ETH Being Left Behind?

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