Since the beginning of 2022, institutional investors have had difficulty investing significantly in Ethereum investment products. ETH continued to be the worst-performing digital asset among well-known cryptocurrencies, with outflows totalling over $451 million so far this year.
The tone, however, marginally improved last week as ETH products saw inflows totalling about $5 million. Institutional investors concentrated more on Bitcoin investment instruments that were shorted during the gloomy sentiment.
Multi-asset investment products Solana (SOL) and Polkadot (DOT) also experienced a small amount of inflows over the past week.
“Digital asset investment products saw inflows totalling US$64m last week, although the headline figures obscure the fact that a significant majority were into short-bitcoin investment products. Ethereum saw a second week of inflows totalling US$5m last week, breaking the 11-week spell of outflows,” CoinShares noted in its weekly report.
Bitcoin investment products experienced historically high outflows during the fourth week of June. The total value of digital assets managed globally decreased significantly as a result.
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