As the crypto market prepares for what could be a regulatory rollercoaster, Bitcoin continues to stay in the spotlight.

Institutional appetite has continued to stay strong, with another $321 million in inflows into digital asset products last week according to CoinShares. Most of that was attracted by Bitcoin ETFs.

According to Dragonfly General Partner Rod Hadick, the sustained institutional interest in crypto is a promising sign of things to come.

"The macroeconomic situation more broadly is obviously positive, Hadick told Coinage during a new interview. "Jobless claims look good, wage growth is back to being positive, profit margins are up. It's a situation where the macro looks great and then just more broadly everything in crypto is trending the right direction."

Bitcoin may also catch a boost as the SEC finally approved options on BlackRock's Bitcoin ETF. Analysts, and Hadick, have said that it could lead to increased adoption among institutions and further boost liquidity to spark another uptick in activity.

On the other hand, Ethereum ETF flows continue to struggle. Ethereum investment products notched five straight weeks of outflows last week, capped by another $29 million in outflows according to CoinShares.

Hadick said most of that is likely just due to a quiet summer trading period, and less indicative of a doomed narrative for Ethereum.

"I think that the conversation around Ethereum's demise is probably mostly coming from people who have maybe bags of crypto that, you know, are not ETH and want to bring just more eyeballs to, you know, whatever it is that they're holding," he said. "But I will say this, I think what is clear today is the majority of TVL is still on ETH."

With the Fed signaling additional rate cuts, Hadick reiterated there’s plenty to be optimistic about.

"I think it's going to be a tremendously bullish back half of the year," he said. "It's all moving in the right direction. And, you know, people should just stay positive."