Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Wavers
As Institutional Investors Pull $60.7 Million
In One
Week
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Wavers As Institutional Investors Pull $60.7 Million In One
Week
by Scott Matherson
3 mins ago
in Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum
0
Crypto investment• Экономика » Финансы » Инвестиции products tracking Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum and others registered another
week of outflows last week, albeit at a lesser amount, to extend the run of
outflows to three consecutive weeks. Digital investment• Экономика » Финансы » Инвестиции products witnessed $30
million worth of outflows last week.
However, this outflow deviated from the trend we normally observe , with
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin taking a step back and most of the movement coming from Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-based
investment• Экономика » Финансы » Инвестиции products. Particularly, the latest CoinShares report shows that
institutional investors pulled a whopping $60.7 million from Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-based
investment• Экономика » Финансы » Инвестиции products in just one week, the largest so far this year.
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Leads The Outflows
CoinShares latest Digital Asset Fund Flows Weekly report suggests that
institutional investor• Экономика » Финансы » Инвестиции » Инвестор sentiment regarding Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is changing into a bullish
one. Notably, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin-based products registered $10 million worth of inflows
last week. While this is small compared to the normal level of inflows usually
witnessed by the crypto asset, the fact that its inflow suggests a lingering
bullish sentiment regarding Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin despite a poor price performance last
week.
Related Reading: What Is Hamster Kombat And Why Are Millions Of Crypto Users
Adopting It?
On the other hand, the same can t be said for Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum . Institutional
investor• Экономика » Финансы » Инвестиции » Инвестор sentiment regarding the king of altcoins seems to be waning as the
launch of Spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs continues to drag on. Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-based saw outflows
of $61 million last week, the largest since August 2022.
Consequently, this means the asset has lost $119 million worth of
institutional investment• Экономика » Финансы » Инвестиции in the past two weeks, making it the worst-performing
asset year-to-date in terms of net flows. This is backed up by data from
CoinShares, which shows Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum s year-to-date outflows now at $25
million. Furthermore, the data indicates Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum is the only digital asset
with a net outflow since the beginning of the year.
Every other digital asset product registered inflows last week. Multi-asset
products led the charge with $17.9 million worth of inflows. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin came in
second with $10 million worth of inflows. Solana, Litecoin, XRP, and Chainlink
also witnessed minor inflows of $1.6 million, $1.4 million, $0.3 million, and
$0.6 million outflows, respectively. This influx of money suggests
institutional investors are still willing to put money into altcoins despite
the poor price performance of most of them last week.
Related Reading: Crypto Fear & Greed Index Continues To Fluctuate At
Neutral, Where Are We Headed Next?
Reflecting the bullish sentiment, short-bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin products witnessed $4.2
million worth of outflows. Trading volumes also rose by 43% week-on-week to
$6.2 billion but remained well below the $14.2 billion weekly average for the
year.
According to CoinShares, most providers saw minor inflows, although most of
this was canceled out by $153 million in outflows from Grayscale. In terms of
region, the US-dominated again with $43 million. Brazil and Australia followed
with $7.6 million and $2.9 million inflows respectively. On the other hand,
Germany, Hong Kong, Canada, Switzerland, and Sweden all witnessed outflows of
$28.5 million, $23.2 million, $14.4 million, $13.3 million, and $4.3 million,
respectively. ETH price recovers toward $3,500 | Source: ETHUSDT on
Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
