Ethereum Products Bleed Funds Amidst Regulators’ Silence on ETF Application

Digital assets investments said the first inflow in five weeks with $130 million of net gains over the past week.

Among the altcoins, Solana stood out with weekly inflows of $5.9 million. With US regulators showing little interest in spot Ethereum ETF applications, there’s growing speculation thatisn’t on the horizon. This lack of progress has been evident in outflows, which surged above $14 million last week. CoinShares also revealed that the volumes of Exchange-Traded Products are decreasing, with only $8 billion traded last week compared to an April average of $17 billion.According to the asset manager, this decline indicates that ETP investors currently need to be more active in the crypto market, representing 22% of total volumes on global exchanges, down from 31% last month.

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