Cryptofonds on a Roll: Ethereum Steals the Show
Cryptofonds have just wrapped up another strong week, with profits pouring in and fresh billions flowing into the market. However, not all assets were created equal, and some notable players took different directions. According to a recent report by Coinshares, digital asset investment products raked in a whopping $1.9 billion in net inflows, marking their 15th consecutive winning week.
Weekly Highlights: Winners and Losers
Ethereum (ETH) was the undisputed star of the week, drawing in a massive $1.59 billion and marking its second-largest weekly inflow of all time. This surge has propelled ETH’s year-to-date total to $7.79 billion, already surpassing its 2024 numbers. The renewed institutional appetite and growing retail interest have certainly contributed to ETH’s impressive performance. On the other hand, Bitcoin (BTC) missed out on the profits, experiencing a net outflow of $175 million and marking its first loss in several weeks.
Other Notable Performers
Solana (SOL) and XRP (XRP) also had a good week, with inflows of $311 million and $189 million, respectively. Sui (SUI) saw minor gains of $8 million, while Litecoin (LTC) and Bitcoin Cash (BCH) experienced slight outflows. This selective rotation of funds into specific assets suggests that investors are becoming more discerning and no longer jumping into the altcoin market as a whole.
Market Trends and Insights
The total inflows for July have now reached a record-breaking $11.2 billion, with the United States contributing the most at $2 billion, followed by Germany’s $70 million. Meanwhile, Canada, Brazil, and Hong Kong saw net outflows. Bitcoin’s slip has coincided with a weakening of its market dominance, while Ethereum’s rally has sparked talk of an altcoin breakout. ETH’s dominance has now risen to around 12%, its highest level in five years.
Altcoin Season on the Horizon?
With Ethereum leading the charge, the altcoin market is starting to stir. The US ETH tracking ETFs have outperformed Bitcoin, attracting billions in just three weeks. This shift in capital rotation and the changing investor atmosphere have many calling for an impending altcoin season. As the market continues to evolve, it will be interesting to see how Bitcoin and Ethereum navigate their roles in the cryptofonds landscape.
