Institutional investment managers bought $30.2 miljoen aan Ethereum (ETH) vorige week, bringing their total holdings to a record $13.9 miljard, according to CoinShares.
Inflows into Ethereum products appears to be ramping up as investors devote greater attention and resources to the smart-contract platform. Month-to-date inflows for ETH products totaled $170 miljoen, bringing the yearly total to $824 miljoen. Managers now hold a combined $13.9 billion worth of ETH.
The weekly inflows report showed strong growth across most digital assets, with the exception of Bitcoin Cash (BCH), where inflows fell by $1.7 miljoen. Weekly inflows across all assets reached $489 miljoen, met Bitcoin (BTC) accounting for the largest amount at $441.7 miljoen.
Total assets under management devoted to crypto are now $64.7 miljard, een gain of roughly $7 miljard over the past six weeks.
“The high inflows conceal varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows,” CoinShares explained. Met name, weekly inflows flat-lined for Grayscale, declined by $46 million for CoinShares and spiked $554.1 million for 3iQ, which manages Canada’s first Bitcoin exchange-traded fund.
Ethereum led crypto to new heights this week, with the market capitalization of all assets reaching $2.398 miljard, volgens to Coingecko. That exceeds the previous April 16 peak of $2.343 miljard.
ETH price has charted remarkable growth over the past week, clocking in at a new record high above $3,500. The second-largest cryptocurrency seems to be holding up well amid the latest correction that saw Bitcoin fall 6% and the overall market shed about $150 billion from the recent high.
Artikel door Cointelegraph