CDS Crypto News CoinShares: ETH Products Attract More Investors Than BTC in Market Recovery
Crypto News

CoinShares: ETH Products Attract More Investors Than BTC in Market Recovery

48
CoinShares: ETH Products Attract More Investors Than BTC in Market Recovery

Market Recovery: The Rise of ETH Products

Market Recovery: The Rise of ETH Products

After the market collapse on August 5, institutional investors redirected their capital to cryptocurrency funds, with Ethereum exchange-traded products being their top pick. Asset management CoinShares reported that for the week ending August 11, inflows into crypto asset investment products totaled $176 million in its Digital Asset Funds Weekly Report, which was released on August 12.

It was discovered that the ether funds were the ones that gained the most from the market downturn, drawing in $155 million, or almost 88% of the total, in the last seven days. In terms of monthly performance, ether funds also dominated in August with $150 million in inflows.

ETH Fund Inflows Surge to $862M, Bitcoin ETPs Witness Significant Outflows

Additionally, it raises ETH fund inflows year to date to $862 million, the highest level since 2021. According to CoinShares, it has been largely driven by the recent launch of US spot-based ETFs. The first week of inflows into US-based spot Ether ETFs since their inception in late July was observed, according to a report published by Cointelegraph on August 12. For the week starting on August 5, the nine recently released products experienced positive net inflows totaling almost $105 million.

In contrast, according to CoinShares, Bitcoin ETPs have only managed $13 million in inflows for the past week and $366 million in outflows for the month as a whole. Fascinatingly, short Bitcoin ETPs experienced $16 million in withdrawals, the highest since May 2023. This is indicating a substantial investor exit since the AUM for short positions has dropped to its lowest point since the beginning of 2024.

For more up-to-date crypto news, you can follow Crypto Data Space.

CoinShares: ETH Products Attract More Investors Than BTC in Market Recovery
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Crypto Funds Rebound: CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election Uncertainty

Crypto Funds Rebound: CoinShares Reports $407M Crypto Fund Inflows Amid U.S. Election...

Bitcoin Mining Profitability Declines in September Despite Rising Hashrate

Bitcoin Mining Profitability Declines in September Despite Rising Hashrate

The Future of Ether: Vitalik Buterin Highlights Transaction Speed and Security

The Future of Ether: Vitalik Buterin Highlights Transaction Speed and Security

Binance Announces Key Changes to Leverage and Margin Tiers for 11 Perpetual Contracts

Binance Announces Key Changes to Leverage and Margin Tiers for 11 Perpetual...