A report from asset manager CoinShares says there has been little interest from institutional investors in the crypto space over the past week.
Crypto funds have been able to raise $15 million over the past seven days. Analysts note that Ethereum products aroused the greatest interest among institutional investors. They invested about $7.6 million in them.
Moreover, ETH funds have shown good performance over the past three weeks in a row.
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However, on an annualized basis, funds were predominantly withdrawn from the air. Since January, financial companies have withdrawn up to $460 million from ETH funds, the researchers emphasized.
The improvement in investor sentiment is due to the upcoming update of the Ethereum network and the transition from proof-of-work to proof-of-stake. From funds oriented towards other altcoins, institutionalists withdrew $300,000.
Investors from the USA and Canada showed the greatest activity last week, they invested $8.2 million and $7.1 million respectively in crypto funds.