ETH Price Shoots 7% As Ethereum Investments Products See Institutional Inflows Once Again

ETH funds finally made out of their almost 2 months long capital investment outflow period and have recently witnessed substantial inflows as institutional investors finally started to accumulate ETH again. 

Inflows totaling $21 million indicate around 28% of the total crypto investment products for the week ending last Friday up till 11 Feb. Last week, nearly $75 million flowed back into digital asset funds.

According to reports, some regional differences are noticeable, like in the western countries marked $5.5 million of outflows while $80.7 million of inflows were registered in European investment products. Nevertheless, the cumulative inflow for the last four weeks is almost $209 million, which is a minuscule amount compared to the inflows recorded in the fourth quarter of 2021.

Multi-asset (coin) investment products have gained popularity and saw an inflow of more than $18 million for the week. Same time, Solana attracted nearly $3 million in inflows and Ripple $2 million.

As the ETH token is performing well on the 12-hour chart, Ethereum price has accelerated. At the time of writing, ETH is trading at $3,105.88, with an uptick of 8.08% in the last 24 hours. However, it is nearly 37% below the all-time high of $4891.70 on 16 Nov 21, approximately 3 months ago.

The world’s second largest cryptocurrency has been one of the top performing digital assets in 2021. Ethereum (ETH) ended the last year with a staggering 4x returns beating its rival Bitcoin by a considerable margin.

Furthermore, all eyes will be on the development regarding Ethereum 2.0. Earlier this month, Ethereum co-founder Vitalik Buterin updated about the important developments ahead in line.

‘The Merge’ that represents a transition from Ethereum 1.0 to Ethereum 2.0 will be completed by June 2022, said Buterin. The Ethereum blockchain will undergo five major “Urges” to improve functionality.

The first will be The Merge and the second will be The Surge which will revolve around the sharing implementation. The third will be The Verge that will ease the validations happening on the Ethereum blockchain.

The fourth is The Purge wherein unnecessary historical things shall be deleted in simplifying the protocol.