Ethereum

Bitcoin

Ethereum exchange-traded products were the top choice for institutional investors as money returned to crypto funds following the Aug. 5 market slump.&nbsp;
In its Digital Asset Funds Weekly Report&nbsp;<a href="https://blog.coinshares.com/volume-195-digital-asset-fund-flows-weekly-report-e29fcaa8713d" target="_blank" rel="noopener nofollow">published</a> on Aug. 12, asset manager CoinShares revealed that crypto asset investment products saw inflows totaling $176 million for the week ending Aug. 11. 
It found that Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) funds benefited the most from the market correction, attracting $155 million in <a href="https://cointelegraph.com/explained/what-are-etf-fund-flows-and-why-do-they-matter">inflows</a> in the last seven days, or around 88% of the total. Ether funds also led on monthly performance with $150 million in inflows in August.
It also brings the year-to-date inflows for ETH <a href="https://cointelegraph.com/explained/what-are-ether-futures-etfs-and-how-do-they-work">funds</a> to $862 million, the highest since 2021. It has been “largely driven by the recent launch of US spot-based ETFs,” stated CoinShares. 
On Aug. 12, Cointelegraph reported that United States-based spot Ether exchange-traded funds (ETFs)&nbsp;<a href="https://cointelegraph.com/news/ether-etf-weekly-flow-hits-positive">saw their first week of inflows</a> since they <a href="https://cointelegraph.com/news/cboe-official-launch-date-spot-ethereum-etf"></a><a href="https://cointelegraph.com/news/cboe-official-launch-date-spot-ethereum-etf">launched in late July</a>. The nine newly launched products had positive overall net inflows of around $105 million for the week beginning Aug. 5.
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 <img src="https://s3.cointelegraph.com/uploads/2024-08/b17e4c5a-8f31-4dcd-8ff7-0b942123661f.jpg" alt="Investors flock to ETH products over BTC as markets recover —&nbsp;CoinShares" title="">
 <figcaption style="text-align: center;">
 Weekly crypto asset fund flows. Source: CoinShares
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Comparatively, Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded products (ETPs) only managed $13 million in inflows for the week and have outflows of $366 million month-to-date, according to CoinShares. 
Interestingly, short Bitcoin ETPs saw their largest outflows since May 2023, totaling $16 million. This has reduced the assets under management (AUM) for short positions to its lowest level since the start of 2024, “indicating a substantial investor exit.” 
Multi-asset or altcoin funds also outperformed Bitcoin ETPs, with an inflow of $18.3 million for the period.
Related: <a href="https://cointelegraph.com/news/ether-etf-weekly-flow-hits-positive">Ether ETF weekly flows turn positive for first time since launch</a>
Crypto markets have recovered by around 20% since the major correction on Aug. 5, with total capitalization returning to $2.2 trillion by Aug. 13.
The total AUM of institutional investment products had also recovered to $85 billion after more than $20 billion was wiped out in the market rout. 
Meanwhile, ETH prices have recovered 23% since dropping below $2,200 on Aug. 5 to top $2,700. Comparatively, the price of BTC has recovered around 19% back since its slump below $50,000. 
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-price-prediction-ethereum-altcoins-crypto-trader-roman-hall-of-flame-cointelegraph/">Ethereum price will lag for ‘months’ as Bitcoin surges: X Hall of Flame, Roman</a>

Investors flock to ETH products over BTC as markets recover — CoinShares

Cointelegraph

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