Crypto investment products see $436M inflow, while Ethereum continues to suffer
Inflows to crypto investment products rose over the past week, but Ethereum continues to lose investors interest.
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Inflows to crypto investment products rose over the past week, but Ethereum continues to lose investors interest.
The Bitcoin ETF from iShares saw a rough entry into the week, with the asset down by 14%, yet according to market analysis, no one budged.
Ether ETFs are on track to reach $500 million in net outflows, but according to market analysts, the ETH bottom may be in.
Bitcoin has been in a downtrend since the beginning of June, struggling to gain upward momentum despite positive ETF inflows.
The new Ether ETFs could also increase institutional investor participation, according to a Nansen analyst.
Stephen Richardsons view aligns with Bloombergs ETF analysts, who expect the spot Ether ETFs to capture 10%20% of the flows that Bitcoin ETFs did at launch.
Crypto market analysts suggest the altcoin stumble may be tied to a recent spate of spot Bitcoin ETF outflows.
Inflows to crypto investment funds top $130 million, and 13F filings reveal new institutional investors spot BTC ETF positions.
Concerns over rising inflation and flat spot Bitcoin ETF inflows could be factors in the $435 million outflow from crypto investment funds last week.
The $254 million inflow day was the third-largest ever on days when BlackRocks IBIT failed to contribute.
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