In the context of the recent drop in the price of Ether below $2,000, weekly fund outflows from ETH-based investment products have climbed to a record $50 million, according to CoinShares.
According to the firm's analysts, the outflow of Ether-based product funds has occurred over the past four weeks. The firm's report said:
"Since mid-May, as negative sentiment spread, net weekly outflows have hit $313 million, or 0.8% of total assets under management."
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The volume of fund outflows is relatively small compared to the same period in 2018. At that time, the amount of assets under management of ETH-based investment products decreased by 4.9%.
CoinShares has noted an inflow of $6 million into products based on various crypto assets, other than Bitcoin and Ether. According to analysts, many investors are trying to diversify their investment portfolios.
CoinShares recorded a record outflow of Bitcoin funds in early May.