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Ethereum investment merchandise sees net inflows for 7 consecutive weeks; overall, investors are taking a wait-and-see approach.
James Butterfill, head of research at the cryptocurrency investment firm CoinShares, reported on the 9th that the inflow of funds into digital asset investment products last week was led by Ethereum (ETH).
As shown in the table below, Ethereum investment products continue to significantly outperform other investment products compared to the previous week. The fund flow into Ethereum investment products last week was a net inflow of approximately $300 million (about 42.7 billion yen).
Ethereum has seen a continuous net inflow for seven consecutive weeks, marking the strongest capital inflow since the U.S. presidential election last November. Mr. Butterfield expressed that this trend is a "significant improvement in sentiment (market psychology)," similar to his previous announcement.
On the other hand, it was reported that there were net outflows for Bitcoin (BTC) investment products for two consecutive weeks, although the amount was not large. Last week's net outflow was $56.5 million (approximately 8.2 billion yen).
It is also explained that investment products for shorting Bitcoin (Short Bitcoin) have seen net outflows for two consecutive weeks.
Investors are taking a wait-and-see approach.
Last week, the overall fund flow for digital asset investment products saw a net inflow of approximately $220 million (around 32.4 billion yen). As shown in the image below, it has been positive for eight consecutive weeks.
On the other hand, Mr. Butterfield pointed out that capital inflows are clearly slowing down. He cited factors such as the upcoming announcement of U.S. inflation indicators and the FOMC (Federal Open Market Committee) meeting on monetary policy decisions, which have led investors to adopt a wait-and-see approach.
What is FOMC?
Abbreviated as "Federal Open Market Committee," it refers to the committee that decides U.S. monetary policy. FOMC meetings attract attention from investors around the world.
This month, the US CPI (Consumer Price Index) will be announced on the 11th, the Producer Price Index (PPI) on the 12th, and the FOMC meeting will take place from the 17th to the 18th US time.