Bitcoin (BTC)<\/a> has been the \u201cprimary focus\u201d for institutional investors over the last two weeks, according to Coinshares, as the cryptocurrency continues to hit new prihighs for 2023. <\/p>\n In a July 3 report from CoinShares\u2019 Head of Research James Butterfill, the analyst noted<\/a> that Bitcoin-related products saw $310.6 million of inflows over the last two weeks, representing the vast majority of crypto product inflows.<\/p>\n \u201cBitcoin remained the primary focus of investors […] with the last 2 weeks inflows representing 98% of all digital asset flows,\u201d said Butterfill. <\/p>\n The last two weeks of inflows are a reversal from the previous nine consecutive weeks of outflows. Short Bitcoin products also experienced a minor outflow of $0.9 million over the last week.<\/p>\n It\u2019s the second time this year that Bitcoin products have accounted for 98% of inflows<\/a> into cryptocurrency investment products, and comes amid a surge in Bitcoin\u2019s price and dominance.<\/p>\n Much of this surge has been pinned on BlackRock\u2019s June 15 spot Bitcoin ETF application, followed by similar filings from the likes of Fidelity, Invesco, Wisdom Tree<\/a> <\/a>and Valkyrie.<\/a><\/p>\n Since the filing, the price of Bitcoin has increased 25.2% to $31,131 at the time of writing. Bitcoin’s dominance \u2014 which is a measure of its market cap relative to the total market cap of all cryptocurrencies \u2014 has risen to 51.46%, according<\/a> to data.<\/p>\n Bitcoin Fear and Greed Index is 64 \u2014 Greed \u2014 Bitcoin Fear and Greed Index (@BitcoinFear) July 4, 2023<\/a><\/p><\/blockquote>\n Meanwhile, Ethereum investment products inflows came in at $2.7 million last week, the second week of inflows that have reversed a lengthy outflow trend.<\/p>\n Related: <\/em><\/strong>Why approving a Bitcoin ETF might unleash $18B in sell-pressure <\/em><\/strong><\/a><\/p>\n Speaking to Cointelegraph on June 26, Fireblocks CEO Michael Shaulov said there has been a \u201cfair amount of interest\u201d from institutional investors in core assets such as Bitcoin and Ethereum, but less so in alternate cryptocurrencies. <\/p>\n \u201cThe narrative around Ethereum is pretty much the understanding that future ecosystems of tokenizeation are likely to be EVM-based. And if they\u2019re EVM based, then Ethereum is going to play out as utility.\u201d <\/p><\/blockquote>\n Shaulov said the narrative around Bitcoin has been less specific, but notes that most investors see the need to hold the cryptocurrency. <\/p>\n Magazine: <\/em><\/strong>Hall of Flame: William Clemente III tips Bitcoin will hit six figures toward end of 2024 <\/em><\/strong><\/a><\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-07\/fefe9a5a-e627-4daa-9cca-c303a9f24535.png\")
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Current price: $31,158 pic.twitter.com\/Tl8vVQp9GA<\/a><\/p>\n