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The recent institutional landscape appears to be undergoing a shift, as Ethereum, which had been struggling with continuous outflows throughout the year, notably totaling $107 million, suddenly experienced a positive change.`According to the latest report by CoinShares, Ethereum has attracted the largest inflows since August 2022, totaling $17.5 million.

In the latest turnaround, digital asset investment products saw inflows totaling $261 million marking the sixth consecutive week of positive investments. This streak raked in $767 million in inflows, surpassing the entire inflow amount of $736 million recorded in 2022.

  • The digital asset manager revealed that the run of inflows now resembles the July 2023 run of inflows and is the largest since the end of the bull market in December 2021.
  • Bitcoin remained the dominant attraction for investments, accumulating a significant $229 million in inflows, contributing to year-to-date inflows totaling $842 million.
  • Increasing prospects of a spot-based ETF in the United States continued to play a key role, CoinShares highlighted in its report.
  • Concerns arising from weaker-than-anticipated macroeconomic data is yet another factor that raised questions about the effectiveness of US monetary policy.
  • During the same period, short positions in Bitcoin also received inflows of $4.5 million, underscoring the apprehension among some investors regarding the sustainability of the latest rally.
  • While Ethereum was the star among the altcoins with an impressive switch, Solana also saw inflows of $11 million.
  • Other altcoins such as Chainlink attracted $2 million, representing 17% of total assets under management. Polygon and Cardano also recorded inflows of $0.8 million and $0.5 million respectively.
  • Meanwhile, the United States has emerged as a notable participant, leading the charge with the largest inflow of $157 million.
  • Germany, Switzerland, and Canada trailed behind with inflows of $63 million, $36 million, and $9 million, respectively.
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