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Ethereum sees $30M inflows after weeks – This is the key reason why

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In total, the outflows were worth $251 million with Bitcoin [BTC] accounting for $284 million. However, Ethereum [ETH] was able to

For the fourth consecutive week, digital asset investment products recorded more outflows than inflows. Coinshares, the leading asset manager, made this known in a post dated the 7th of May.This was the first time in seven weeks that Ethereum had inflows. However, AMBCrypto observed that the launch of Bitcoin and Ethereum spot ETFs in Hong Kong last week was responsible for the increase.

Another reason could be linked to the anticipated decision of the U.S. whether to approve the Ethereum ETF applications or not. But last week, these altcoins could not find favor in the eyes of investors. For Ethereum, an approval could save ETH from its depressing phase.

 

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