Ethereum Investment Outflow of 234.9 Billion Won, While Bitcoin Sees 1.3 Trillion Won Inflow

While Ethereum-based products saw an outflow of 234.9 billion won, Bitcoin attracted large inflows, reflecting diverging investor sentiment. Macro factors like the US-China summit and rate cut expectations are also drawing attention.

Ethereum (ETH) investment products saw an outflow of about 234.9 billion won (169 million USD) over the past week, marking the first net outflow in 5 weeks. However, demand for high-leverage products remained strong, suggesting investors' risk appetite has not easily diminished.

According to the latest report from CoinShares, overall digital asset investment products recorded a net inflow of about 1.2818 trillion won (921 million USD). This is interpreted as optimism forming amid expectations of rate cuts despite the possibility of a US federal government shutdown and economic recession. Especially, the consumer price index (CPI) announced last week came in below expectations, reigniting the possibility of additional rate cuts within the year being priced into the market.

Amid this trend, global ETP trading volume reached 39 billion USD (about 54.21 trillion won) on a weekly basis, significantly exceeding this year's average of 28 billion USD (about 38.92 trillion won). This is taken as evidence that institutional and individual interest in cryptocurrency investment continues despite high volatility.

Bitcoin (BTC) led as the top asset, driving a weekly inflow of 931 million USD (about 1.2948 trillion won), bringing its year-to-date net inflows to 30.2 billion USD (about 42 trillion won). However, this still lags behind last year's record of 41.6 billion USD (about 57.7 trillion won). Short Bitcoin products also recorded an inflow of 14.4 million USD (about 20 billion won), showing that negative market views are maintained to some extent.

In contrast, Solana (SOL) and Ripple (XRP) saw inflows of 29.4 million USD (about 40.8 billion won) and 84.3 million USD (about 117.1 billion won) respectively, but expectations for US ETF listings seem somewhat weakened compared to the past. Multi-asset portfolio funds recorded a net inflow of 33.2 million USD (about 46.1 billion won), while Litecoin (LTC) and Chainlink (LINK) saw modest inflows of 300,000 USD (about 400 million won) and 100,000 USD (about 100 million won) respectively.

On the other hand, besides Ethereum, Sui (SUI) saw an outflow of 8.5 million USD (about 11.8 billion won), and Cardano (ADA) saw an outflow of 300,000 USD (about 400 million won).

By region, the US recorded the largest inflow of 843 million USD (about 1.1718 trillion won), while Germany also posted a near-record performance of 502 million USD (about 696.7 billion won). Switzerland, on the other hand, saw an outflow of 359 million USD (about 499.1 billion won), which is analyzed as due to technical movement resulting from asset transfers between providers.

Meanwhile, as the US-China summit between President Trump and President Xi is scheduled for this week, investors are maintaining a wait-and-see attitude while withholding judgment on market direction. QCP Capital cautioned in a report, “Progress in US-China trade negotiations could have a significant impact on overall risk asset sentiment.”

However, considering the Fed's continued tightening policy, the possibility of a prolonged shutdown, and sluggish stock market trends, it is also suggested that Bitcoin and altcoin prices are likely to remain in a limited range for the time being. The outlook is that a clear trend reversal is difficult to expect until Bitcoin reclaims 116,000 USD (about 161.24 million won).

#Ethereum #Bitcoin #CoinShares #AssetInflows #MarketSentiment