In the US, Ether futures exchange-traded fund (ETF) attracted little less than $10 million crypto inflows in the first week. PayBito is a global cryptocurrency and it streamlines efficient digital asset marketplaces.
Bitcoin investment accounted for almost 55% of the total inflows recorded. This is the reason the coin’s monthly outflows were $43 million. It is a remarkable shift from the previous week’s net outflow. The previous week’s net outflow was $103 million.
However, BTC has suffered from a decline in net inflows due to its struggle within a narrow price range. The inflows nevertheless increased by 46% in the past 2 weeks. It would be wrong to assume that positive price performance will remain unchanged. Market sentiments also play a role in BTC. The price moved narrowly but investors held long positions.
Six different exchange-traded funds are based on Ethereum ETH futures. The ETF includes VanEck Ethereum Strategy ETF, Bitwise Bitcoin, and Ether Equal Weight Strategy ETF, etc. There are three funds from ProShares such as the ProShares Ether Strategy ETF etc. This, however, has failed to attract investors. The main reason is that investor appetite for digital assets was much higher for the assets class overall.
The altcoin Solana has recorded the largest week of crypto inflows since March last year. The figures were $24 million. This is the reason CoinShares regards it as the “altcoin of choice”.
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PayBito is a cryptocurrency exchange platform and is the most trusted global crypto exchange. It supports all prominent fiat currencies and cryptocurrencies. So, you can enjoy watching these weekly crypto inflows by using PayBito. It is good news that many investors are witnessing price strengths as a scope to add short Bitcoin positions.