Positive Momentum for Ethereum Continues with Another $60 Million in Inflows: CoinShares Report
Cardano (ADA) and Litecoin (LTC) are also seeing a great start with inflows of $6.6 million and $3.6 million, respectively. Bitcoin still accounts for the lion’s share of the inflows at $290 million last week.
Crypto asset investment products saw a resurgence of demand last week with inflows of $373 million, as per the data provided by CoinShares.
While continuous outflows were seen in some of both the Bitcoin and Ethereum’s individual products, reflecting profit-taking behavior was only a negligible 0.27% and 0.1% of total assets under management. BTC 1.59% Bitcoin / USD BTCUSD $ 56,714.09
$901.751.59% Volume 61.32 b Change $901.75 Open $56,714.09 Circulating 18.71 m Market Cap 1.06 t
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The positive momentum for Ethereum kept on last week as well, with $60 million in inflows bringing the total assets under management to a new record of $16.5 billion.
“Institutional demand for ETH exposure is certainly growing. The open interest is growing rapidly for CME’s ETH futures and is now above $500 million,” noted Arcane Research.
Amidst this, ETH balance on exchanges continues to drop, with a total of 4.54 million ETH withdrawn from centralized exchanges in 2021 so far. While 4.71% of the circulating supply is getting out of exchanges, another 8.74% of the circulating supply of Ethereum is currently locked in DeFi Protocols, and more than 4% is locked in ETH 2.0 deposit contract.
Bitcoin, which achieved Ether’s current AUM level in December 2020, still accounts for the lion’s share of the inflows at $290 million last week.
New investment product entrants Cardano (ADA) and Litecoin (LTC) got off to a good start with inflows of $6.6 million and $3.6 million, respectively. This brings total assets under management to $10.8 million for Cardano and $12.5 million for Litecoin. ADA 7.50% Cardano / USD ADAUSD $ 1.77
$0.137.50% Volume 5.43 b Change $0.13 Open $1.77 Circulating 31.95 b Market Cap 56.43 b
8 h Positive Momentum for Ethereum Continues with Another $60 Million in Inflows: CoinShares Report 5 d Georgia’s Apex Bank Considers CBDC, Calls For Partnerships 6 d Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report LTC 4.84% Litecoin / USD LTCUSD $ 377.44
$18.274.84% Volume 8.8 b Change $18.27 Open $377.44 Circulating 66.75 m Market Cap 25.2 b
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Exchange trading volumes for Bitcoin (BTC) averaged $10.5 million last week, with Bitcoin investment products higher than recent weeks with total trading volumes of $6.1 billion.
Grayscale remains the world’s largest digital asset manager with $50.83 billion in AUM, followed by CoinShares, with just over $6 billion in assets.