ETH accounted for 80% of institutional crypto inflows last week

The Crypto Asset Manager CoinShares reported this Investment inflows into institutional cryptocurrency funds skyrocketed last week, most of them in Ethereum.

The report shows that 80%, or $ 195 million, of last week’s $ 245 million crypto inflow was invested in Ether products prior to the launch of the Chicago Mercantile Exchange Ethereum futures contracts February 8.

By comparison, Bitcoin received $ 41.9 million from weekly flows for a total of $ 2.02 billion this year.. The report indicated that investor diversification was beginning to begin, and it added this There was little evidence of profit-taking as investors preferred to buy and hold.

“We believe that investors seek diversification and are more familiar with the fundamentals of Ethereum. Bitcoin had its lowest inflows ($ 42 million) since hitting an all-time high in the week ending January 8, 2021. “

ETH accounted for 80% of institutional crypto inflows last week
ETH accounted for 80% of institutional crypto inflows last week

The total inflow of digital asset investment products for 2021 so far is $ 2.6 billion, 39% of the institutional capital of $ 6.7 billion invested in cryptocurrency funds in 2020 in just six weeks.

The report states: The trading volume in investment products remains high. The average last week was $ 670 million per day, which is 5.4% of the total Bitcoin trading volume.

Grayscale remains the largest institutional crypto wealth fund, with record assets of $ 33.4 billion (AUM). from February 8th.

Grayscale’s Ethereum Trust has grown in terms of the total share of the AUM number and is now over $ 5 billion, which is more than 15%. However, the Bitcoin Trust still holds the lion’s share of all investments at 82% of total investments.

CoinShares reports that 21Shares is the second institutional fund by weekly listings at nearly $ 21 million, followed by WisdomTree at $ 11.5 million.

Many experts expected that the launch of CME’s Ether futures would be followed by a sharp decline. to repeat the drop in prices after the Bitcoin futures launch in December 2017.

Yet, Ethereum rebounded after the contracts started and hit a new all-time high of $ 1,780 on February 9th.. The last time ETH changed hands, it was $ 1,750 at the time of going to press.

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