Ethereum suffers yet another weekly outflow, but how did BTC perform

ambcrypto.com:

For the third straight week, Ethereum [ETH] investment products failed to attract the purses of digital asset investors, CoinShares’ 27 March report revealed .

According to the report duly delivered by James Butterfill, the altcoin faced the same fate as that of the previous weeks, seeing a $5.2 million outflow.

However, products linked to Bitcoin [BTC ] had the opposite experience as the inflow was as high as $127.5 million. Every week, CoinShares discloses the activities with respect to crypto Exchange Traded Products (ETPs) across several countries.

Source: CoinShares

But before the latest report, both Bitcoin and Ethereum were on the same page . This was largely due to the instability in the traditional finance sector.

However, the trust issues with the banking sector seem to have resulted in gains for the crypto ecosystem. By and large, the overall inflow totaling $160 million was the highest since July 2022. 

This hike implies that the level of trust in crypto products was high at the expense of traditional institutions’ offers. CoinShares was of the same view even though it admitted that the inflows were relatively low at the beginning of the previous week. The report stated:

“While the inflows came relatively late compared to the broader crypto market, we believe it is due to increasing fears amongst investors for stability in the traditional finance sector.”

But why has Ethereum failed to take a significant share of the input since it was the second-largest cryptocurrency in market value? Well, the long-standing investment group opined that Ethereum’s decline could be due to several factors. And like CoinShares opined last week, the Shanghai upgrade topped the list. The trading firm pointed out,

“We