Institutional demand for Ethereum continues to increase day by day. Ether products now account for more than a quarter of the managed assets of crypto investment products.
CoinShares dated June 1 Weekly Digital Asset Fund Flow According to the report, the past week saw a significant influx of $74 million in institutional funds as institutional investors sought to profit from the more than 50 percent depreciation of many cryptocurrencies.
More than 63 percent of institutional funds, or $46.8 million, were transferred to Ether products. Ether products represent 27 percent of the total managed assets of crypto investment products.
While 11.1 million was transferred to products that offer investment in multiple cryptoassets, $5.2 million was invested in Cardano products, $4.5 million in XRP products and $3.8 million in Polkadot products.
A slowdown was observed in the capital withdrawn from Bitcoin products. While $110.9 million was withdrawn from these products last week, about $4 million was withdrawn this week. The total amount withdrawn from BTC products in the past three weeks was $246 million.
While the $47.9 million transferred to Bitcoin products in the past 30 days is about a third of the $147.7 million transferred to Ethereum products, Bitcoin still leads the way in capital transferred since the beginning of the year. Almost $4.4 billion has been invested in BTC products and $973 million in Ether products since the beginning of January.