Institutional investors invested $13.2 million in Ethereum over the week

by Eve Adams

a year 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.

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