Outflows from Ethereum-based investment products persist for the 4th week in a row

Crypto investment products based on Ethereum experienced negative outflows for the fourth week in a row, despite positive inflows into other crypto-based investment products, according to a report by CoinShares. Ethereum saw outflows of $22.5 million last week, while other top altcoins like Litecoin, Solana, and Filecoin recorded positive inflows. The price of Ether (ETH) rose by 6.8% in the 24 hours leading up to 11:45 am UTC, reaching $3,625. However, it is down 8.2% over the past month. Solana, often referred to as an “Ethereum killer,” has been outperforming Ether, with its native token rising by 24% in the past month. Despite weekly inflows of $646 million into digital asset investment products, investor interest in exchange-traded funds (ETFs) may be declining. Spot Bitcoin ETFs have accumulated over 834,000 Bitcoin, worth $60.4 billion, since their approval in January. Short Bitcoin investment products saw outflows of $9.5 million for the third consecutive week, indicating a “minor capitulation among bearish investors.”