Institutional investors load up ETH, Using its Talk of AUM hitting a Fresh record

Institutional investors are still exit BTC in favor of ETH, with Ether investment products now representing over one-quarter of institutional crypto AUM.
Institutional demand for Ethereum continues to spike with Ether products now representing over one quarter of their assets under management (AUM) of both crypto investment products.According into CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the past week saw substantial institutional inflows of $74 million since investors sought to capitalize on the fall out of the recent crash in which many crypto assets dropped more than 50 percent of the value.More compared to 63% of institutional inflows were injected into Ether products, roughly $46.8 million of the total. Ether products now represent 27% of the combined AUM to get crypto investment products — the highest share yet.Significant inflows were made to products offering exposure to numerous crypto assets ($11.1 million) as well as funds targeting Cardano ($5.2 million), respectively XRP ($4.5 million), and Polkadot ($3.8 million).Outflows by Bitcoin products have slowed, with roughly $4 million in funds leaving the markets — down from last week’s $110.9 million in outflows. Over the last three weeks, $246 million has totaled BTC investment products.Despite Bitcoin’s 30-day inflows of $47.9 million currently equating to roughly one-fifth of Ether’s $147.7 million, even Bitcoin still dominates year-to-date inflows with nearly $4.4 billion in comparison to Ether’s $973 million.However, Ether’s recent momentum has now given rise to renewed speculation regarding if Ethereum is gearing up to flip Bitcoin, with Ethereum currently beating out crypto’s honeybadger by transaction count, volume, and penalties, and trade volume.According into CoinGecko, Ether is currently the second-most traded crypto advantage using $38.8 billion in every single volume, ranking behind only Tether’s $103 billion. Roughly $32.9 worthiness of BTC changed hands over the past 24 hours.

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