$17.5M Sent to Ethereum Funds: CoinShares
The past week saw a surge in capital investment into Ethereum funds, with institutional investors adding a total of $17.5 million, the highest since 2022.
This comes after a prolonged period of institutions exiting crypto funds due to concerns about Bitcoin’s performance.
Bitfinex attributes this trend to a waning interest in the overall digital asset market, with Ethereum funds being particularly affected.
Despite the launch of ETH futures ETFs in the US, ETH’s appeal has been declining. However, last week saw a reversal, with ETH funds receiving the most influx of capital since August 2022.
In total, crypto funds received $261 million in investment over the week, marking the sixth consecutive week of investor interest.
Meanwhile, Bitcoin funds raised $229 million, with an annual influx of $842 million.
CoinShares notes that investors are preparing for the launch of spot Bitcoin ETFs in the US, which is expected to trigger a bullish trend in the market.
