Ethereum

Solana

Filecoin

Ethereum-based crypto investment products have witnessed a negative outflow for the fourth week in a row. According to <a href="https://etp.coinshares.com/knowledge/market-activity/fund-flows-08-04-24" rel="nofollow noopener" target="_blank">data</a> from CoinShares, Ethereum saw a $22.5 million worth of outflow last week with most altcoins experiencing an opposite trend. The report found that other crypto-based investment products experienced positive inflows. 
<h2 class="wp-block-heading" id="ethereum-based-investment-products-record-negative-outflows">Ethereum-based investment products record negative outflows</h2> 
The report noted that there was a general positive sentiment in crypto investment products with inflows reaching $646 million last week. “Digital asset investment products saw continued positive sentiment with inflows totaling US$646m last week. inflows year-to-date at US$13.8bn are at their highest ever level,” the report said. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="1170" height="858" src="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7658.jpeg" alt="" class="wp-image-508374" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7658.jpeg 1170w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7658-300x220.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7658-768x563.jpeg 768w" sizes="(max-width: 1170px) 100vw, 1170px">
 <figcaption class="wp-element-caption"> Crypto flows by assets. Source: CoinShares
 </figcaption>
</figure> 
Ethereum witnessed its fourth consecutive week of outflows despite other altcoins seeing positive inflows. According to the report, Litecoin’s weekly inflow was around $4.4 million closely followed by Solana with a weekly inflow of $4 million, while Filecoin made the top 3 with a weekly inflow of $1.4 million. 
<h2 class="wp-block-heading" id="ethereum-experiences-a-slight-decline">Ethereum experiences a slight decline</h2> 
Ethereum experienced a slight rise of about 7% to trade at $3,698 over the last 24 hours. According to CoinGecko data, the asset is presently up by 5.5% on the week and down by about 5% in the past month. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="1170" height="765" src="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7659.jpeg" alt="" class="wp-image-508379" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7659.jpeg 1170w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7659-300x196.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7659-768x502.jpeg 768w" sizes="(max-width: 1170px) 100vw, 1170px">
 <figcaption class="wp-element-caption"> ETH/USDT chart. Source: CoinGecko
 </figcaption>
</figure> 
On its part, Solana has been tipped to become one of the most sought-after due to its scalability and high throughput. Its native token SOL has experienced a 24% rise in the last month whereas Ethereum experienced a drop of 5% in its value. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="1170" height="749" src="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7660.jpeg" alt="" class="wp-image-508380" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7660.jpeg 1170w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7660-300x192.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7660-768x492.jpeg 768w" sizes="(max-width: 1170px) 100vw, 1170px">
 <figcaption class="wp-element-caption">
 SOL/USD chart. Source: CoinGecko
 </figcaption>
</figure> 
CoinShares believes that investor appetite for exchange-traded funds may be on the decline despite the massive $646 million worth of inflows into crypto investment products. “Despite this, there are signs that appetite from ETF investors is moderating, not achieving the weekly flow levels seen in early March, while volumes last week declined to US$17.4bn for the week compared to US$43bn in the first week of March,” CoinShares noted. 
Since the approval of spot Bitcoin ETFs in January, over 834,000 Bitcoins worth $60.4 billion have been shifted into these funds. <a href="https://dune.com/hildobby/btc-etfs" rel="nofollow noopener" target="_blank">Data</a> from Dune notes that ETFs have only accumulated about 4.24% of the total Bitcoin supply. CoinShares also noted that short Bitcoin investment products experienced outflows for the third consecutive week, with the outflow signaling a minor capitulation among bearish investors.

Ethereum-based products record negative outflows for the fourth consecutive week

Table of Contents

Cryptopolitan_News

Other articles published on Apr 8, 2024

Dogwifhat (WIF) Investors Redirect Portfolio Towards 1000x O2T Token, Currently Raised $4.2M

Unexpected Bitcoin Spot ETF Move from China’s Two Major Companies: It’s Official Now

The Thrill of Growth: Polygon (MATIC) and NEAR Protocol (NEAR) Users Find a New Ally in Koala Coi...

Crypto Q1 Report Highlights 300% Meme Coin 'Renaissance' And 'Major Step' For Ethereum

Metaplanet Collaborate with Prominent Investors to Embrace Bitcoin

Binance Expands Altcoin Selection with Tensor (TNSR) Listing

Join our free newsletter for daily crypto updates!