{"id":238422,"date":"2024-07-01T13:28:54","date_gmt":"2024-07-01T13:28:54","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/01\/coinshares-ethereum-faces-continued-outflows-while-bitcoin-sentiment-shows-signs-of-reversal\/"},"modified":"2025-06-25T17:15:45","modified_gmt":"2025-06-25T17:15:45","slug":"coinshares-ethereum-faces-continued-outflows-while-bitcoin-sentiment-shows-signs-of-reversal","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/01\/coinshares-ethereum-faces-continued-outflows-while-bitcoin-sentiment-shows-signs-of-reversal\/","title":{"rendered":"CoinShares: Ethereum Faces Continued Outflows While Bitcoin Sentiment Shows Signs of Reversal"},"content":{"rendered":"

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Digital asset investment products experienced a third consecutive week of outflows, amounting to US$30 million, according to CoinShares<\/a>. However, the latest week showed signs of these outflows significantly slowing down. Ethereum (ETH) saw the largest outflows since August 2022, totaling US$61 million, making it the worst-performing asset year-to-date in terms of net flows.<\/p>\n

Ethereum’s Continued Struggles<\/h2>\n

Ethereum’s outflows over the past two weeks have reached a staggering US$119 million. This marks Ethereum as the poorest performing digital asset in the market this year. Despite the broader market’s efforts to stabilize, Ethereum continues to face significant challenges.<\/p>\n

Bitcoin and Multi-Asset Products See Inflows<\/h2>\n

Contrary to Ethereum’s struggles, multi-asset and Bitcoin (BTC<\/dfn><\/i><\/b><\/u><\/a>) exchange-traded products (ETPs) recorded inflows. Multi-asset ETPs led with US$18 million, followed by Bitcoin ETPs with US$10 million. Additionally, short-Bitcoin products saw outflows of US$4.2 million last week, indicating a potential shift in sentiment towards Bitcoin.<\/p>\n

Regional Investment Trends<\/h2>\n

Regionally, the United States led with US$43 million in inflows. Brazil and Australia also saw positive inflows of US$7.6 million and US$3 million, respectively. In contrast, negative sentiment was prevalent in Germany, Hong Kong, Canada, and Switzerland, with outflows amounting to US$29 million, US$23 million, US$14 million, and US$13 million, respectively.<\/p>\n

Altcoins and Blockchain Equities<\/h2>\n

Among altcoins, Solana (SOL) and Litecoin (LTC) were notable for their inflows, totaling US$1.6 million and US$1.4 million, respectively. Despite the positive sentiment in the broader crypto market, blockchain equities have suffered outflows of US$545 million this year, representing 19% of assets under management (AuM).<\/p>\n

Image source: Shutterstock<\/i><\/span> <\/p>\n

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