Institutional FOMO on Pause?

 Institutional FOMO on Pause? 

Recent developments have seen institutions pause their Bitcoin buying spree, causing the cryptocurrency's value to dip to $58k. This downturn rippled across the crypto market, with Ethereum (ETH) dropping 4.6%, Solana (SOL) plummeting 8%, and Binance Coin (BNB) and Toncoin (TON) also facing notable declines.

However, there's a silver lining...

As prices fell, many investors took advantage of the opportunity, treating it like a Black Friday sale. CoinShares data indicates a significant influx of $176 million into crypto products, pushing the total assets under management (AUM) up to $85 billion. This marks a recovery from a previous $20 billion loss.

Ethereum has been leading the charge, attracting $155 million in inflows just last week. This surge is largely attributed to the introduction of new U.S. spot ETFs.

Conversely, short Bitcoin exchange-traded products (ETPs) suffered, experiencing their largest weekly outflow since last May. In other words, Bitcoin bears didn't fare well.

With positive ETF data, the question arises: Why aren't prices surging? Is the allure of Bitcoin ETFs fading?