Positive Inflows for Bitcoin and Ethereum Funds
CoinShares reported net inflows of $148 million for global Bitcoin funds last week. Short Bitcoin products, on the other hand, experienced outflows of $3.5 million. Ethereum funds also witnessed a second consecutive week of positive inflows, totaling $33.5 million, following a lengthy period of minimal activity.
Shifting Investor Sentiment Towards Ethereum
CoinShares highlighted this trend as a sign of a shift in investor sentiment towards Ethereum, which had previously endured ten weeks of outflows amounting to $200 million. This renewed interest in Ethereum has also positively affected Solana, which attracted $5.8 million in inflows amidst speculation about potential Solana ETFs and other altcoin products.
Global Distribution of Investment Activity
While most of these inflows originated in the United States, substantial cryptocurrency investments were reported in Canada and Switzerland, where Ethereum enjoys strong institutional support alongside Bitcoin.
Potential Launch of Ethereum ETFs in July
Industry experts project that Ethereum ETFs could launch in July, potentially capturing around 20% of the demand witnessed by Bitcoin ETFs. Bloomberg ETF analyst Eric Balchunas remarked last week that “securing 20% of Bitcoin ETF demand would represent a remarkably successful launch by typical ETF standards.”
