Shift

United

Galaxy

Spot

<ul>
 <li>Over the last two weeks, the products have had net outflows of $60 million each week.</li>
 <li>There was an influx of $18M&nbsp; into multiasset ETPs and $10M into bitcoin (BTC) ETPs.</li>
</ul>
According to a Monday report by crypto firm CoinShares, professional investors pulled out more than $120 million from exchange-traded instruments that tracked ether (<a href="https://thenewscrypto.com/is-ethereum-set-for-a-major-upswing-or-continued-correction/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) over the previous two weeks.
Over the last two weeks, the products have had net outflows of $60 million each week. Which is the highest level seen since August 2022. Additionally, there was an influx of $18 million into multi-asset ETPs. And $10 million into <a href="https://thenewscrypto.com/bitcoin-etfs-attract-130m-in-inflows-marking-5th-straight-day-of-gains/" target="_blank" rel="noopener noreferrer nofollow">bitcoin</a> (BTC) ETPs, indicating the perspective could be shifting. Germany, Hong Kong, Canada, and Switzerland saw outflows, while the United States, Australia, and Brazil experienced regional inflows.
<h3 class="wp-block-heading" id="h-all-eyes-on-ether-spot-etf">All Eyes on Ether Spot ETF</h3>
The U.S Securities and Exchange Commission (<a href="http://sec.gov" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) authorized the submissions of applicants last month, bringing the availability of Ether ETFs for trading in the US closer. Their S-1 forms also need regulator approval before the ETFs can be permitted to trade.
Bitwise predicts $15 billion in the first 18 months for ether ETFs. While firms like Galaxy predict $5 billion in the first five months. It is anticipated that broker-dealer platforms and independent financial advisors will drive demand for the planned products.
Coinshares previously said that $584 million was pulled out of digital asset investment products in the week beginning June 24. Withdrawals of $600 million were recorded for these products during the week of June 17, which is the highest amount since March 22.
Digital asset investment products, on the other hand, received $2 billion in the week beginning June 10, increasing the five-week total to $4.3 billion. The crypto market has been struggling for quite some time now, with Bitcoin facing bearish pressure.
Highlighted Crypto News Today:
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Investors Pull $60M from Ether Products Amid Shifting Market Trends

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