If we do weekly Digital Asset Funds Flows report from CoinShares to be believed, institutional investors currently prefer Ethereum. While the entire industry saw a small outflow below the line in the past seven days, Ethereum was the big winner with an inflow of $ 6.6 million.
Focus on Ethereum
The fact that the institutional public is currently focusing on Ethereum is clearly visible in the figures that Bitcoin can provide. Bitcoin products saw an outflow of $13 million, while short Bitcoin products also saw an outflow of $5.5 million.
It is striking to see that both Bitcoin products that are positive about the future of the currency and products that speculate on a decline saw an outflow. Usually we see the opposite.
Ethereum was thus the big winner with an inflow of USD 6.6 million. XRP also saw small inflows of $2.6 million, likely as a result of winning the lawsuit, while Solana, Uniswap, and Polygon saw inflows of $1.1 million, $0.7 million, and $0.7 million.
North America sells
Most of the negative sentiment came from North America. They were responsible for 99 percent of the outflows ($ 21 million). This was compensated somewhat by Switzerland (inflow of USD 12 million) and Germany (inflow of USD 1.9 million).
Somehow it is strange to see North American investors getting out at the moment, because the BlackRock Spot Bitcoin ETF has been requested there.
On the other hand, Americans may now be feeling the pain of the Federal Reserve’s aggressive interest rate hikes and, as a result, want to realize some gains to get fat on their bones for lesser times.
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