As the crypto market gradually stabilizes, Grayscale's Ethereum Spot ETF (ETHE) has also successfully ended its net outflows since the conversion; and asset management company CoinShares said that during the market recovery stage from last week to this week, Ethereum's funds Compared with Bitcoin, the product seems to be more attractive to investors.
Grayscale ETHE ends two weeks of net outflows
SosoValue data shows that nine U.S. Ethereum spot ETFs had a net inflow of $4.93 million on Monday, reversing three consecutive days of net outflows totaling $42.26 million caused by market panic last week.
Among them, Grayscale’s ETHE achieved a record of zero traffic for the first time since the conversion, finally ending two weeks of net outflows. Previously, a total of US$2.3 billion in funds flowed out, with an outflow rate of approximately 45.2%.
At the same time, this is also the first time since the launch of VanEck’s ETHV that there has been a net outflow, with a record of approximately $2.92 million.
CoinShares: ETH wins again? BTC ETP investors pulling out?
Investors favor ETH products over BTC during market recovery
CoinShares noted in its weekly digital asset flow report that investors appear to be choosing ETH exchange-traded products (ETPs) over BTC during the market recovery after last week’s plunge.
(Get ahead of the United States! The British Monetary Authority approved the listing of Bitcoin and Ethereum physical ETPs on the London Stock Exchange)
The report wrote that in the week ending August 11, digital asset investment products had a total inflow of US$176 million, of which ETH ETP accounted for US$155 million, accounting for approximately 88% of the total inflow. On the contrary, BTC ETP only had 1,300 US dollars this week. Inflow of USD 10,000:
ETH ETP benefited from the approval of the ETF and seemed to have successfully attracted the interest of institutional investors. It benefited the most from the market crash and recovery, bringing its year-to-date capital inflow to $862 million, the highest since 2021. numerical value.
Bitcoin Short ETP Withdrawal
Meanwhile, BTC ETPs saw a whopping $366 million in outflows this month, including the largest outflow from a short ETP since May last year, totaling $16 million, or about 23% of assets under management (AuM):
Assets under management on short positions have fallen to their lowest level since the beginning of the year, indicating a massive exodus from investors.
Optimistic about the crypto market
CoinShares finally mentioned that what was different from last week’s plunge was that capital inflows occurred in all regions around the world, indicating that after the recent price correction, the market seems to have a unanimously optimistic view of crypto assets:
Among them, the United States, Switzerland, Brazil and Canada had the most obvious inflows of funds, each with an influx of US$20 million to US$89 million.
(Solana spot ETF was approved by the Brazilian Securities Regulatory Commission and will be officially launched three months later)
(3iQ applied for the first Solana ETP in Canada, code "QSOL")
This article Grayscale ETHE ends net outflow! CoinShares: Investors prefer ETH trading products instead of BTC appeared first on Chain News ABMedia.
