Bear the end of the market in sight? Ethereum is seeing an increased inflow again

Ethereum has seen a slight decline in investment interest as market sentiment continues to decline.

Buy ETH on eToro now

A positive attitude is returning to Ethereum

CoinShares weekly report for the week of July 4 shows a slowdown in market sentiment as Ethereum (ETH) sees inflows for the third straight week.

Notice

According to the report, digital asset investment products have seen an inflow of $ 15 million. Total assets under management (AuM) increased from an annual low to $ 36.2 billion.

Ethereum investment products totaled $ 7.6 million in inflows this week. This is the third week in a row that the asset has seen an inflow.

According to CoinShares, this is a “moderate change of mood” for the coin as it had previously seen just 11 weeks of outflows.

According to the report, the new positive outlook for Ethereum can be linked to the increasing likelihood of the blockchain migrating to a proof network.

Ethereum recently completed its merger of testlia Seplia. This brings the base closer to the mainnet blend. There is speculation that it will happen later this year.

Multi-asset investment products also saw a small but steady inflow of $ 2.2 million. All other altcoins had a largely inactive week.

Investors are still shortening bitcoin

CoinShares New Report Shows Investors Still Building Short Positions Against Bitcoin (BTC). BTC saw $ 6.3 million in inflows this week.

This follows the week that saw more than $ 50 million in inflows into bitcoin short positions.

CoinShares Highlights “Cooling Slowly” Bitcoin Short Positions. The flagship digital asset had bounced back slightly over the past week, trading as low as $ 22,109.67.

Bitcoin investment products saw small outflows of $ 1.7 million.

Americans, Canadians and Swiss are optimistic

According to investor demographics, most of the inflow came from stock exchanges in the US, Canada and Switzerland.

According to the report, these three countries contributed $ 17.2 million in weekly inflows, while France recorded $ 100,000 in inflows.

However, outflows from Brazil, Germany and Sweden meant that total inflows did not exceed $ 14.6 million.

ProShares and 21Shares accounted for over 80% of total inflows among providers. ProShares now has the highest inflow since the beginning of the year at $ 273 million.

On the other hand, CoinShares XBT, 3iQ and ETC were responsible for all outflows.

Buy ETH on eToro now

Text credit: Cryptoslate