According to CryptoPotato, digital assets investments have seen their first inflow in five weeks, with net gains of $130 million over the past week. However, the absence of action from US regulators on spot Ethereum ETF applications has led to speculation that approval may not be imminent, resulting in significant outflows for Ethereum during the same period.
Bitcoin investment products experienced inflows of $144 million, bouncing back from a slow month, as revealed in CoinShares' latest edition of the Digital Asset Fund Flows Weekly Report. Short-bitcoin ETPs saw outflows of $5.1 million, bringing the total outflows over the last eight weeks to $18 million. Among the altcoins, Solana stood out with weekly inflows of $5.9 million.
The lack of interest from US regulators in spot Ethereum ETF applications has fueled speculation that approval is not forthcoming. This has been reflected in outflows, which exceeded $14 million last week. Meanwhile, investment products for Polkadot saw inflows of $1.3 million, followed by XRP and Litecoin, which had inflows of $0.6 million and $0.1 million, respectively.
The volumes of Exchange-Traded Products (ETPs) are decreasing, with only $8 billion traded last week compared to an April average of $17 billion. This decline suggests that ETP investors need to be more active in the crypto market, representing 22% of total volumes on global exchanges, down from 31% last month.
In terms of regions, the US received the largest inflow of $135 million. Grayscale, a major player, saw its lowest weekly outflows since January, totaling $171 million. Switzerland also saw inflows of $14 million. Hong Kong, which had record inflows the previous week, only received $19 million in inflows, suggesting that most of the capital invested in the first week after the launch of Bitcoin ETFs was seed capital. Australia and Brazil saw inflows of $0.7 million and $0.3 million, respectively, during the same period. Conversely, Canada and Germany continued to experience outflows, with $20 million and $15 million, respectively, bringing their combined year-to-date outflows to $660 million. Sweden also recorded weekly outflows of $4.8 million.