According to CoinShares, the holdings of Institutional managers was brought to a record of $13.9 billion, which is premised on their buying $30.2 million worth of Ethereum last week.
As investors devote greater attention and resources to the smart-contract platform, Inflows into Ethereum products appears to be ramping up. A total of $170 million and bringing the yearly total to $824 million. Managers now hold a combined $13.9 billion worth of ETH, according to Month-to-date inflow for ETH products.
There is strong growth across most digital assets, with the exception of Bitcoin Cash (BCH), where inflows fell by $1.7 million, according to the weekly inflows report showed strong growth across most digital assets. Also, with Bitcoin (BTC) accounting for the largest amount at $441.7 million, weekly inflows across all assets reached $489 million
Total assets under management devoted to crypto are now $64.7 billion, a gain of roughly $7 billion 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. In particular, 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 billion, according to Coingecko. That exceeds the previous April 16 peak of $2.343 billion.