Bitcoin investment products have finally broken a five-week streak of outflows and attracted a whopping $144 million in weekly inflows, according to a recent report by CoinShares. This surge in investment comes after a strong start to the year, with growing interest in crypto products in Hong Kong being a major contributing factor.
But Bitcoin was not the only cryptocurrency making waves in the investment world. Solana also saw a significant increase in inflows, totaling $5.9 million. Despite this positive development, the overall volume of Exchange Traded Products (ETPs) in the crypto market dropped compared to April averages, indicating a decline in investor interest.
With Bitcoin’s price sitting at $62,579 and Solana at $148.22, both cryptocurrencies have seen notable increases in value, further solidifying their position as attractive investment options. In contrast, Ethereum products experienced outflows of $14.4 million, with regulatory uncertainty around the approval of an Ethereum ETF application being a major factor.
Overall, Bitcoin and Solana are leading the way in attracting investment capital, leaving Ethereum behind in terms of investor confidence. The market sentiment around Bitcoin and Solana remains largely positive, while Ethereum struggles to maintain investor interest amidst regulatory uncertainties.
