Ethereum-based crypto investment products saw negative outflows for the fourth consecutive week despite positive inflows into other crypto-based investment products.“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.”Ethereum’s fourth consecutive week of outflows came despite other top altcoins recording positive inflows.
“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.” 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,
Short Bitcoin investment products saw outflows for the third consecutive week, totaling $9.5 million, suggesting “minor capitulation among bearish investors,” according to CoinShares.Plotting the path to $80K — 5 things to know in Bitcoin this week