In a notable development, the Global Bitcoin Fund observed significant net inflows amounting to $148 million last week, as reported by CoinShares. This surge in investment stands in sharp contrast to short Bitcoin products, which experienced a total outflow of $3.5 million. Ethereum funds also attracted $33.5 million, marking the second consecutive week of positive inflows after a long period of minimal activity.
CoinShares highlighted this trend as indicating a shift in investor sentiment towards Ethereum. Ethereum in particular endured outflows totaling $200 million over 10 weeks. The renewed interest in Ethereum has also had a positive impact on Solana, with $5.8 million in inflows recorded amid speculation about a potential Solana ETF and other altcoin products.
Most of these inflows originated in the United States, but significant cryptocurrency investments were also reported in Canada and Switzerland. Ethereum continues to enjoy strong institutional support in the region along with Bitcoin.
Experts expect an Ethereum ETF to launch as early as July, which could capture around 20% of the demand witnessed by the Bitcoin ETF. Bloomberg ETF analyst Eric Balchunas commented last week that securing 20% of demand for a Bitcoin ETF represents an exceptionally successful launch by typical ETF standards.
The surge in Bitcoin and Ethereum inflows highlights growing investor interest in cryptocurrencies, particularly in anticipation of new investment opportunities such as the ETH spot ETF. As the cryptocurrency market continues to evolve, the introduction of an Ethereum ETF could further improve accessibility and diversification options for investors, potentially driving further growth and adoption in the cryptocurrency space.
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