Year-to-date inflows to ETH products at the beginning of the month totaled $170 million, bringing the annual total to $824 million.
The latest CoinShares data shows that weekly inflows into Ether investment products continue to grow. Institutional investors purchased $30.2 million worth of Ether last week, bringing their total Ether holdings to a record $13.9 billion.
Meanwhile, CoinShares announced that its Ether assets under management surpassed $2 billion. In February, CoinShares’ physically backed Ether Exchange Traded Product (ETP) was listed on the SIX Swiss Exchange under the trading symbol ETHE with a base rate of 1.25%.
The flow of money into Ether products appears to be increasing as investors devote more attention and resources to smart contract platforms. Year-to-date, inflows into ETH products totaled $170 million at the beginning of the month, bringing the annual inflow total to $824 million.
The weekly inflow report shows strong growth for most digital assets, with the exception of Bitcoin Cash (BCH), which saw a $1.7 million decrease in inflows. Weekly inflows for all assets reached $489 million, with Bitcoin accounting for the largest amount at $441.7 million.
Total cryptocurrency assets under management now stand at $64.7 billion, having gained approximately $7 billion over the past six weeks.
CoinShares explained, “The large inflows mask the disparate flows between providers, with many seeing outflows in Europe while their North American counterparts are seeing strong inflows.”
Of particular note, Grayscale’s weekly inflows were essentially flat, CoinShares’ inflows decreased by C$46 million, and 3iQ, which manages Canada’s first bitcoin exchange-traded fund, jumped by C$554.1 million.
Ether pushed cryptocurrencies to new heights this week, with all assets reaching a market cap of $2.398 billion, according to Coingecko. This surpassed the peak of $2.343 billion set on April 16.
ETH prices have seen significant growth over the past week, hitting new highs above $3,500. Ether, the second largest cryptocurrency, seems to be doing well in the latest pullback. Bitcoin is down 6% and the overall market is down about $150 billion from its recent highs.
Cryptoquant data shows that short liquidations in Ether hit a record high with a total of $50 million in short Ether positions being liquidated as Ether set new all-time highs again. In addition, trading volume in Ether exceeded that of Bitcoin on most exchanges.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/data-13-9-billion-worth-of-ether-held-by-institutions/
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