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Ethereum-based crypto investment products saw negative outflows for the fourth consecutive week despite positive inflows into other crypto-based investment products.
Ethereum saw $22.5 million worth of outflows last week, in contrast with most of the other top altcoins, <a href="https://etp.coinshares.com/knowledge/market-activity/fund-flows-08-04-24" target="_blank" rel="noopener nofollow">according</a> to an April 8 report by CoinShares.
<blockquote data-ct-non-breakable="true">
 “Digital asset investment products saw continued positive sentiment with inflows totalling US$646m last week. inflows year-to-date at US$13.8bn are at their highest ever level, now far surpassing the US$10.6bn seen in 2021.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/01ddbc55-bea1-441d-b4e7-f05897ce4a13.png" alt="" title="">
 <figcaption style="text-align: center;">
 Weekly crypto flows by asset. Source: CoinShares
 </figcaption>
</figure>
Ethereum’s fourth consecutive week of outflows came despite other top altcoins recording positive inflows. According to the report, Litecoin registered $4.4 million worth of weekly inflows, followed by Solana with $4 million and Filecoin with $1.4 million.
The Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) price rose 6.8% in the 24 hours leading up to 11:45 am UTC to change hands at $3,625. The world’s second-largest cryptocurrency is up 2.3% on the week but down 8.2% over the past month, <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener nofollow">according</a> to CoinMarketCap data.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/eddce30f-f653-4df5-b9ed-4324e75c1e0f.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 ETH/USDT, one-month chart. Source: CoinMarketCap
 </figcaption>
</figure>
Solana is often touted as one of the most promising “Ethereum killers” due to its scalability and high transaction throughput. Its native token has also been outperforming Ether. Solana’s (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) token rose 24% during the past month, while Ether fell over 6.2%, according to <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=BITSTAMP%3AETHUSD" target="_blank" rel="noopener nofollow">TradingView</a> data.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-04/5bfe6bb7-b013-4e0c-a554-52764e9ce56a.png" alt="" title="">
 <figcaption style="text-align: center;">
 ETH/SOL, one-month chart. Source: TradingView
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/frax-diversify-backing-yield-250-m-ethena-s-usde">Frax Finance dives into DeFi liquidity with $250M USDe allocation</a>
<h2 data-ct-non-breakable="true" id="is-investor-etf-appetite-on-the-decline">Is investor ETF appetite on the decline?</h2>
Despite $646 million worth of weekly inflows into digital asset investment products, investor appetite for exchange-traded funds (ETFs) may be on the decline, according to CoinShares.
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>
Since spot Bitcoin ETFs were approved in January, they have massed over 834,000 Bitcoin worth $60.4 billion in total on-chain holdings. ETFs have accumulated 4.24% of the current BTC supply, <a href="https://dune.com/hildobby/btc-etfs" target="_blank" rel="noopener nofollow">according</a> to Dune data.
Short Bitcoin investment products saw outflows for the third consecutive week, totaling $9.5 million, suggesting “minor capitulation among bearish investors,” according to CoinShares.
Related: <a href="https://cointelegraph.com/news/bitcoin-mining-profitability-wont-fall-halving">Bitcoin mining profitability won’t necessarily fall after halving</a>

Ethereum-based investment products see negative outflows for 4th consecutive week

목차

Cointelegraph

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