According to Cointelegraph: Investment product flows based on Ethereum, the second-largest cryptocurrency, have been negative for the fourth week in a row, despite positivity in other crypto-based products such as Solana.
According to an April 8 report by CoinShares, Ethereum-related investment products faced an outflow of $22.5 million over the past week. This underperformance is notable in contrast to positive inflows seen in several other leading altcoins such as Litecoin, which registered $4.4 million in weekly inflows, and Solana, recording $4 million, and Filecoin with $1.4 million.
While the trend for Ethereum investment products seems to be on a decline, the positive sentiment towards digital asset investment products is ongoing, with a total inflow of $646 million last week. This uplift takes the total inflows year-to-date to an all-time high at $13.8 billion, a figure surpassing the $10.6 billion seen in 2021.
Despite the positive investment activity in the digital asset space, there could be a declining trend in the appetite for exchange-traded funds (ETFs), as per CoinShares. Since spot Bitcoin ETFs received approval in January, they have collectively amassed over 834,000 Bitcoin, equivalent to $60.4 billion in total on-chain holdings, or 4.24% of the current BTC supply. However, last week's volumes dropped to $17.4 billion, compared to $43 billion in the first week of March.
Interestingly, investment products betting against Bitcoin registered outflows for the third consecutive week, totaling $9.5 million, hinting at possible capitulation among bearish investors.
