Ethereum settled at $2,130, up 2.8% in the past 24 hours Tuesday, price monitoring by CoinDesk shows, as the cryptocurrency's investment products and funds posted record sales in the last week of June.
Based on data by digital asset manager CoinShares, Ethereum bore the brunt of negative sentiment on cryptocurrencies as market participants pulled back holdings for a fourth consecutive week.
The world's second-biggest cryptocurrency in terms of market capitalization saw record selling in the past seven days, the most since 2015, CoinShares said.
The outflows mark a reversal from the trend so far this year, with Ethereum-concentrated products having generated a net $943 million for the year to date as market participants diversified away from Bitcoin.
Bitcoin was at $34,827.94, up 0.6% Tuesday on Coingecko. Bitcoin products and funds suffered a seventh consecutive week of selling totaling $1.3 million, Reuters said.
For the month of June, Ethereum has shed around 22% of its price against the U.S. dollar. On Monday, however, Ethereum was up 5.5% at $2,091.96.
Sentiment for cryptocurrencies has been crushed in the wake of a crackdown by China, which banned bitcoin mining activities.
In addition, Japan and Britain regulators have issued warnings against Binance, one of the largest cryptocurrency exchanges in the world.
Britain's financial regulator said Binance can't engage in any regulated activity and warned consumers about cryptocurrencies.
Meanwhile, CoinDesk said selling of cryptocurrencies last week "remains small" in comparison with the negative sentiment in early 2018 where selling was almost 5% on a relative basis.
