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Bitcoin and Ethereum Investment Funds Gain Momentum

Bitcoin and Ethereum investment funds are continuing to attract a significant amount of capital, with the anticipation of upcoming ETH spot ETFs in the United States creating a buzz among investors.

The latest data from CoinShares reveals that global Bitcoin investment funds received net inflows of $148 million in the past week, while short Bitcoin products experienced outflows of $3.5 million.

On the other hand, Ethereum funds saw inflows of $33.5 million, marking a second consecutive week of positive activity after a period of stagnation. The shift in investor sentiment towards Ethereum is evident, with a turnaround from a 10-week stint of outflows totaling $200 million.

The positive news also led to an increase in inflows for Solana, amounting to $5.8 million, as potential ETFs for alternative coins like Solana gain traction in the market.

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Global Crypto Investment Trends

While the majority of inflows originated from the United States, significant crypto investments were also observed in Canada and Switzerland, where Ethereum’s institutional influence alongside Bitcoin is notable.

Industry experts are anticipating the launch of Ethereum ETFs in July, which could potentially attract 20% of the demand seen by Bitcoin ETFs. A successful Ethereum ETF debut would be a significant achievement, according to Bloomberg ETF analyst Eric Balchunas.

Overall, crypto investment funds worldwide garnered $185 million in inflows last week, pushing the year-to-date total above $15 billion. Despite a slight decline in volume from the previous week, the market remains robust with growing investor interest.

Top Bitcoin spot ETFs from BlackRock and Fidelity saw substantial inflows, highlighting the ongoing dominance of these major players in the market. At the same time, established ETF issuers experienced outflows, with the Grayscale Bitcoin Trust being a notable contributor to the trend.

The rise of BlackRock’s Bitcoin ETF signaled a significant shift in the industry, resulting in other ETF providers facing challenges and outflows. The landscape of the cryptocurrency investment market continues to evolve, with new players entering and altering the competitive dynamics.

As of the latest data, Bitcoin spot ETFs now manage over 1 million BTC assets, showcasing the increasing influence of these investment vehicles in the digital asset space.

Edited by Ryan Ozawa.