Institutional investors invested $13.2 million in Ethereum over the week

Institutional investors invested $13.2 million in Ethereum over the week

user avatar

by Eve Adams

2 years ago

Last week, crypto funds focused on Ethereum (ETH) garnered the most interest among institutional investors.

According to Coinshares, these funds attracted $13.2 million over seven days.

Experts believe that large capital is preparing for the launch of spot Ethereum ETFs in the US market. Investments in tools focused on this altcoin are expected to increase until early July, when the Ethereum ETF is anticipated to be released.

Institutional investors also invested around $1.1 million in funds focused on XRP and showed inflows into funds tracking the performance of Binance Coin (BNB), Cardano (ADA), Chainlink (LINK), and Litecoin (LTC).

At the same time, investors withdrew $621 million from Bitcoin funds, leading to a net capital outflow of $600 million from the market.

Analysts note that the total volume of digital assets under the management of crypto funds decreased to $94 billion over the week. At the beginning of June, this amount was $100 billion.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.